(AURN News) — More bad news for the working and middle class as new Consumer Price Index numbers show the American economy remains weak.
For April, the CPI increased 0.6%, according to new data from the Bureau of Labor Statistics. It also rose 0.9% in March, and over the past year inflation is now sitting at 3.8%.
The CPI is an important measure of inflation. At the end of the day, what this increase points to is that Americans are paying higher prices for many things ranging from food to energy.
Food prices increased 0.5%, while electricity prices jumped 2.1%.
Over the past year, what is referred to as “food at home” increased 2.9%.
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