US Reports Higher-Than-Expected CPI in April at 8.3%

The U.S. CPI in April rose 8.3% year-on-year, higher than economist expectations of 8.1% increase.

The reading was lower than 8.5% rise in March, but still at a 40-year high. Core CPI, which excludes food and energy, also was higher than economist expectations, rising 6.2%.