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Inflation jumps to 5% through April in the quickest rise since 2008

Inflation jumps to 5% through April in the quickest rise in consumer prices since the Great Recession

Inflation rose at a faster rate in May than any time since the Great Recession, as consumer face higher prices for everyday goods and services.

In its report Thursday, the government said that overall consumer prices rose 0.6 percent in May, bringing the inflation rate to 5 percent over the past year, the highest level since August 2008. 

Core inflation, which excludes volatile energy and food costs, rose 0.7 percent in May after an even bigger jump in April, and is up 3.8 over the past 12 months, the quickest rate since 1992.

Developing story, check back for updates. 

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