The Labor Department said Wednesday that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.3 in April from the previous month. Prices climbed 3.4% from the same time last year.

<i>This is a developing story. Please check back for updates.</i>

The Labor Department on Wednesday released the closely watched April consumer price index report, revealing just how hot inflation was running last month.{ai:summary}<p>Consumer prices jump 0.3% in April, up 3.4% from last year. Trouble brewing in the market. #economy</p>

Inflation increases 3.4% in April as prices remain elevated

Loading...