Consumer prices in April had their biggest increase in more than three years in the United States as gasoline and rents rose, pointing to a steady inflation buildup.
Other data on Tuesday showed that housing starts and industrial production rebounded strongly last month, suggesting the economy was regaining steam early in the second quarter.
“The combination of higher prices, housing gains and industrial production support the narrative of a second-quarter rebound in G.D.P.,” said Jay Morelock, an economist at FTN Financial in New York.
