CPI Hits Nearly 4% in April, the Highest Reading Since May 2023

The consumer price index (CPI) reached 3.8% annually in April, which represents the highest reading since May 2023. “This is hurting Americans. There is a real financial squeeze underway. For the first time in three years, inflation is eating up all wage gains. This is a setback for middle-class and lower-income households and they know it,” said Heather Long, chief economist at Navy Federal Credit Union (more).