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Inflation rose to 3.8% in April.
According to the Bureau of Labor Statistics, the seasonally adjusted Consumer Price Index (CPI) increased by 0.6% in April. This rise has led to an overall inflation rate of 3.8% over the past 12 months, a significant increase over the already elevated 3.3% reported for March. If your household budget feels increasingly strained, the data provides a clear reason: a massive surge in energy costs accounted for over 40% of the total monthly increase in the CPI.
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