Summary List Placement
Reopening-fueled inflation has arrived.
The Consumer Price Index — a key gauge of nationwide price growth — leaped 0.8% in April, trouncing the median estimate of a 0.2% jump. The increase was the largest since 2009. The index that excludes food and energy prices rose 0.9%, and that was the largest one-month surge since 1982.
The data highlights that relaxed lockdown measures, stronger demand, and widespread supply shortages converged to boost price growth. More recent headlines, particularly news of a cyberattack crippling a key oil pipeline, suggest inflation will accelerate further in May.
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