Energy surge fuels April CPI, pushing U.S. inflation to 3.8%
TL;DR Summary
April CPI rose 0.6% for the month, lifting the year-over-year rate to 3.8% — the highest since May 2023 — driven largely by energy; core CPI gained 0.4% and 2.8% YoY, showing inflation spreading beyond food and energy. Real wages fell, markets moved lower, and traders priced in roughly a 30% chance of a Fed rate hike by year-end, with the Fed keeping rates unchanged in April.
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