Two and a Half Year High Hit for Inflation

Inflation hit a two and half year high in April. The 3.2% jump was largely attributed to higher energy and food prices. Economists were not surprised by the figure and expect it drop in the months ahead. When the food and energy sectors were stripped out, the so-called “core CPI” (CPI stands for consumer price index) was a more modest 1.3%.

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Inflation hits 2-1/2 year high, seen peaking