US inflation soars to 13-year high

The consumer price index in the United States has reached 4.2 percent over the past 12 months, the highest since September 2008, Report informs with reference to the US Department of Labor.

Experts predicted that the inflation rate would reach 3.6 percent.

Consumer prices in April increased by 0.8 percent compared to March. However, experts had expected 0.2 percent growth. According to them, the current figure is driven by growing demand as the spread of the coronavirus weakened.

Excluding food and energy prices, the core CPI rose 0.9 percent from March, the highest since 1982. Gasoline prices, on the other hand, fell for the first time in nearly a year.

The Labor Department's report showed a sharp rise in the price of cars, transportation, and hotel accommodation as businesses hardest hit by the pandemic reopened.