According to Wednesday’s report by the Bureau of Labor Statistics, inflation rose once again in April. The rise has already pushed consumers over the edge, and threatened the economy expansion.

The Consumer Price Index, which is an index that measures prices for products and services across a wide range of goods, increased 8.3% compared to a year earlier. It was also higher than the Dow Jones forecast for an 8.1% increase.

After adjusting for volatile fuel and food prices the core CPI rose 6.2% against the expectations of a gain of 6%.

The single greatest threat to the recovery has been inflation. It began in the early days of the pandemic, and in 2021 saw the economy achieve its highest single-year growth rate since 1984. Inflation has not only caused rising prices in the grocery store and at the pump, but it also affected housing and auto sales, as well as a variety of other areas.

Federal Reserve officials addressed the issue with two interest rate increases this year. They also promised to do more until the inflation target of 2% is met. The Fed faces a huge task, however. Wednesday’s data showed that Fed officials have a lot of work ahead.

This is breaking news. For more information, please check here.