© Ted RallInflation Nation
© Ted Rall
Inflation eased up a bit in April, but remained near a four-decade high during that period, according to new data from the US Department of Labor’s Bureau of Labor Statistics, which observed significant increases in the indexes for shelter, food airline fares and new vehicles.
US hopes of economic expansion in a post-pandemic society appear to remain threatened as the Bureau of Labor Statistics released a report on Wednesday detailing an 8.3% yearly increase in the consumer price index, a broad-based measure of prices for services and goods.
The increase was near the highest level since the summer of 1982, per CNBC.
Eric Winograd, a US economist at asset manager AB, told the Associated Press that core price jumps–fueled by spikes in airline tickets, hotel rooms, and new cars–“make clear that there is still a long way to go before inflation returns to more acceptable levels”