Soaring Energy Prices Push Consumer Inflation Up To 3.8%

Consumer prices rose sharply in April, driven by rising energy prices and increases in prices for housing, furniture, airfare, and clothing.

The consumer price index rose 0.6 percent in April, the Department of Labor said Tuesday. Compared with a year ago, prices are up 3.8 percent. This matched expectations.

Core prices, a measure that excludes volatile food and energy prices, rose 0.4 percent compared with the previous month. For the year, core prices are up 2.8 percent. That compares with expectations of 0.3 percent for the month and 2.7 percent for the year.

The month-to-month increase showed inflation slowing from the jump in March, when…

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