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US consumer prices up 8.3% in year to April

In its reading for last month, the Labor Department said the CPI rose 8.5 per cent in the year to March

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Washington: US consumer prices rose 8.3 per cent in the year to April, easing slightly from March while keeping inflation in the world’s largest economy not far from the four-decade highs seen in recent months, the Labor Department said Wednesday.

“In April, the Consumer Price Index for All Urban Consumers rose 0.3 per cent, seasonally adjusted, and rose 8.3 per cent over the last 12 months, not seasonally adjusted,” the department said, referring to its reading for the so-called CPI.

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In its reading for last month, the Labor Department said the CPI rose 8.5 per cent in the year to March, growing at its fastest pace since the 1980s. Economists had forecast an 8.1 per cent growth for the 12 months to April, putting the reported number still above expectations.

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