Investors Watch as Inflationary Pressures Continue to Mount

Stocks in the U.S. traded sharply lower this week as inflationary pressures continued to mount. On the inflation front, April’s consumer price index (CPI), a key measure of inflation, rose 0.3% month over month and 8.3% year over year. While an improvement from last month’s 8.5% reading, the headline number was above the consensus estimate of 8.1% and remains well above the Federal Reserve’s long-term target.