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US inflation comes in far higher than expectations

Summary:
Updated with comments from Federal Reserve vice chair Richard Clarida.*Woof:The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 per cent in April on a seasonally adjusted basis after rising 0.6 per cent in March, the US. Bureau of Labor Statistics reported today. Over the past 12 months, the all items index increased 4.2 per cent before seasonal adjustment. This is the largest 12-month increase since a 4.9-per cent increase for the period ending September 2008.Yep, the US printed a 4.2 per cent year-on-year rise CPI in April and up from 2.6 per cent in March. The core measure, which strips out changes in food and energy prices, is worth noting too — it’s seen as a better gauge of underlying price pressures. Headline inflation was expected to hit 3.6 per

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Updated with comments from Federal Reserve vice chair Richard...

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