US CPI up 3.9% in April 2008

Stocks rally on a report that shows that inflation pressures eased a bit last month. A look at the Consumer Price Index for All Urban Consumers (CPI-U) by expenditure category and commodity and service group reveals that only two categories, apparel and recreation, are below the Fed's comfort zone of 2 percent. I guess CNBC's Wall St. pet Cramer missed that fact when he congratulated the Fed for defeating inflation.




source: CONSUMER PRICE INDEX: APRIL 2008
Bureau of Labor Statistics
http://www.bls.gov/cpi/#news