Consumer prices were up in April, the Labor Department reported Tuesday but that doesn’t mean you should panic over inflation, yet.
The latest consumer price index, or CPI, increased by 0.4 percent in April. The seemingly small gain is actually the largest monthly increase in more than three years. But inflation is still low — this brings the total increase over the last year to 1.1 percent. Click the audio player above to hear more about what drove price increases and what didn’t. Spoiler alert: energy prices were a big factor.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.