According to new federal data, U.S. inflation accelerated at its fastest pace since 2008 last month with the Consumer Price Index (CPI) spiking 4.2% from a year ago. The index for used cars and trucks rose 10% percent in April, the largest one-month increase since tracking began in 1953. Meanwhile, the Producer Price Index spiked 6.2% for the 12 months ended in April, the largest increase since the Bureau of Labor Statistics started tracking the data. In its analysis, OMA Connections Partner RSM reminds clients that comparing prices in today’s marketplace to prices 12 months ago is an “apples-to-oranges comparison.” 5/12/2021