US consumer prices rise in April

© Reuters. FILE PHOTO: A shopper wearing a face mask due to the coronavirus disease (COVID-19) pandemic searches toys at a Target store in King of Prussia, Pennsylvania, the United States, Nov. 20, 2020. REUTERS / Mark Makela

WASHINGTON (Reuters) – US consumer prices rose faster than expected as booming demand in a reopening economy weighed on supply constraints, fueling fears in financial markets of a prolonged period of higher inflation.

The consumer price index rose 0.8% last month after rising 0.6% in March, the Labor Department said on Wednesday. Excluding the volatile food and energy components, the CPI rose 0.9%. The so-called core CPI rose 0.3% in March.

Economists polled by Reuters had forecast that headline CPI would rise 0.2% and core CPI 0.3%.

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