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Consumer prices jump 0.8% in April as concerns escalate

Consumer prices in the United States jumped 0.8% in April, pushing the rise in inflation over the past year to its fastest rate in more than a decade, an acceleration that has raised growing concerns about its effect on the economy.

The Labor Department reported on Wednesday that the price consumers pay for their purchases of everything from food and clothing to new cars, rose at a faster rate than last month’s 0.6% increase.

Over the past 12 months, prices have risen 4.2% – the fastest rise since gaining 4.9% in the 12 months ending September 2008.

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