US Inflation Accelerates as Energy Prices Surge

Inflation in the United States rose to 3.8% in April, up from 3.3% in March, according to data from the US Bureau of Labor Statistics. Month on month, prices increased by 0.6% on a seasonally adjusted basis

Energy costs accounted for most of the increase. The energy index rose 3.8%, contributing more than 40% of the overall monthly rise in prices. Gasoline prices climbed 5.4%, electricity rose 2.1% and heating oil increased 5.8%.

Food prices rose 0.5%. By contrast, prices for new vehicles, communication services and health care declined.

Core inflation, which excludes food and energy, stood at 2.8% year on year and rose 0.4% month on month.

(bls, bak)