By the Numbers: Consumer prices spike 4.2% in last year

A look at recent inflation, with prices for consumer goods, food and used cars surging as the U.S. economy picks up.
1:11 | 05/13/21

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Transcript for By the Numbers: Consumer prices spike 4.2% in last year
To inflation you've probably noticed some price sites which economists attribute to the recovering economy pent up demand pandemic stimulus programs and low interest rates while it's clear just how high prices might climb week alone by the numbers at new data released today. Point 2% that's how much the Consumer Price Index spiked in the last twelve months according to the Labor Department. How this tracks costs of everyday goods and services is actually the largest one year jump since September of 2008. And in April lonely index rose by point 8% food prices are up 2.4 percent since this time last year. And rose 3.4. Percent in just a last month. Now while prices for used cars they shot up a whopping 10% just in April. That's the largest monthly increase on record in part because of a global electric chip shortage and the core index which excludes volatile food and energy prices that jumped a hefty 3% in one year nearly 1% in April alone. And finally today's inflation news sent stocks tumbling. The Dow dropped more than 681. Points S&P fell by more than 2% and in NASDAQ declined. Two point 67%.

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