A measure of inflation that is closely tracked by the Federal Reserve increased in April - The Hemet & San Jacinto Chronicle

hsjchronicle.com

A measure of inflation that is closely tracked by the Federal Reserve increased in April - The Hemet & San Jacinto Chronicle

By CHRISTOPHER RUGABER WASHINGTON (AP) — A key index of U.S. prices ticked higher in April, and consumer spending rebounded, a sign that inflationary pressures in the economy remain high. The index, which the Federal Reserve closely monitors, showed that prices rose 0.4% from March to April. That was much higher than the 0.1% rise the previous month. Measured year over year, prices increased 4.4% in April, up from 4.2% in March. The year-over-ye…