The Consumer Price Index (CPI), which measures overall inflation of the U.S. dollar, rose 0.8% in April, capping off the largest 12-month jump in prices since the period ending September 2008 after the beginning of the Great Recession.
The Department of Labor released data tracking inflation in the U.S. on Wednesday morning. The April jump in CPI was driven by a 10% price hike on used cars and trucks, the largest jump for that market on record.
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