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U.S. Inflation Surges to Highest Level since 2008

M. Ali 12 May, 2021 8:03 pm Market Update

Consumer prices in the United States surged during April, leading to the highest rise in the inflation rate in more than 12 years, data showed on Wednesday.

The Consumer Price Index (CPI) increased by 4.2% last month, according to official data by the U.S. Department of Labor.

This marked the highest rise in inflation in the U.S. since September 2008.

Core CPI went up by 3% on an annual basis, and by 0.9% on a monthly basis.

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