Inflation Spiked 4.2% In April—Hitting 13-Year High As Price Concerns Rock The Market

released Wednesday by the Labor Department, shooting past expectations one day after inflationary concerns led to the stock market’s worst daily performance in months.... [+]The Wednesday figure marks the highest annualized inflation reading since a 4.9% increase in September 2008.

Among goods that saw the largest price increase, the index for used cars and trucks rose a staggering 10% in April from March, marking the largest one-month increase since the Bureau of Labor Statistics started tracking prices in 1953. Overall prices rose 0.8% from March—far higher than the 0.2% economists were expecting, while the core price index, which excludes volatile energy and food prices, rose 3% over the last year—nearly twice the 1.6% figure from March.Last month, surging gasoline prices pushed overall consumer prices up 0.6%, representing their largest jump since August 2012.

Weird it almost like when you pull money out of thin air and give almost every citizen a couple thousand bucks it diminishes the value

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Stocks tumble as surging prices rattle the marketUS stocks sold off Tuesday and the Dow briefly tumbled more than 600 points, as investors grow increasingly concerned about raw material price spikes, shortages and inflation.
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