Why did inflation increase in April?
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.
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