Jump in food prices biggest in 18 years

Consumers had to shell out more for goods, services and especially food in April, according to a government report released Wednesday, but the rise was lower than expected.

The Consumer Price Index, a key inflation reading, rose 0.2% last month, according to the Labor Department. That was lower than the 0.3% jump recorded in March and fell short of 0.3% rise a consensus of economists surveyed by Briefing.com had forecast.

The rise in prices in April left overall prices 3.9% above where they were 12 months earlier, below the 4% rise on that basis in March.

CNN