INFLATION SURGES

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Infla­tion accel­er­at­ed at its fastest pace in more than 12 years for April as the U.S. eco­nom­ic recov­ery kicked into gear and ener­gy prices jumped high­er, the Labor Depart­ment report­ed Wednesday.The Con­sumer Price Index, which mea­sures a bas­ket of goods as well as ener­gy and hous­ing costs, rose 4.2% from a year ago, com­pared to the Dow Jones esti­mate for a 3.6% increase. The month­ly gain was 0.8%, against the expect­ed 0.2%.Excluding volatile food and ener­gy prices, the core CPI increased 3% from the same peri­od in 2020 and 0.9% on a month­ly basis. The respec­tive esti­mates were 2.3% and 0.3%.The increase in the head­line CPI …

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