April Consumer Price Index up 8.3% year-over-year — above forecasts, but down slightly from March
Forecasters predicted an 8.1% rate.
The Facts Inside Our Reporter’s Notebook
The Labor Department reported Wednesday the country's consumer price index for April was 8.3%, compared to a year ago — higher than expected, but slightly lower than the 40-year high reached in March.
The 8.5% year-over-year increase in March was the highest since 1981.
April's rate was higher than forecasters predicted. Economists at data provider FactSet surveyed by the Associated Press projected an 8.1% increase, compared to a year earlier.
The Consumer Price Index for All Urban Consumers increased 0.3% in April on a seasonally adjusted basis after rising 1.2% in March, the bureau also reported.