Consumer prices jump 5% over past year; Unemployment claims fall

Published by: MRT

Published on:

WASHINGTON — U.S. consumer prices continue to climb sharply while weekly jobless claims are falling, according to two pieces of economic data released by the Department of Labor on Thursday.
The Consumer Price Index, which measures what consumers pay for everyday goods and services and is often looked at as an inflation barometer, jumped 5% over the last 12 months — the largest increase since August 2008.
The index increased by 0.6% in May alone after rising 0.8% in April.

abc7ny.com

Disclaimer: This article is generated from the feed and not edited by our team.