US inflation sees biggest jump since 2008, in April -21


US inflation surged in April from a year earlier, as the economic recovery from Covid-19 picked up.
Inflation is breaching the Federal Reserve's target of 2% and this has raised fears it might need to raise interest rates to cool things down.

The reopening of the economy would put some upward pressure on the price level. It may take some time for supply to rise to the level of demand.