According to the Labor Department, the country’s Consumer Price Index for April was 8.3 percent compared to a year ago.
This number was higher than expected, but slightly lower than the 40-year high reached in March, Just the News reports. The March 8.5 percent year-over-year increase was the highest since 1981.
Economists at FactSet predicted an 8.1 percent increase, compared to a year earlier.
The Consumer Price Index for All Urban Consumers increased 0.3 percent in April on a seasonally adjusted basis after rising 1.2 percent in March, the Labor Department also reported.
