A worker on an auto assembly line in Smyrna, Tennessee.
Luke Sharrett/Bloomberg/Getty Images
The concentration of price pressures in a handful of categories means markets shouldn’t yet be worrying about inflation after Wednesday’s U.S. surprise, economists have told CNBC.
The U.S. Consumer Price Index for April rose 4.2% from the same period last year, its sharpest rise since 2008, while the monthly climb in core inflation, which excludes volatile food and energy prices, was the fastest since 1981.
The readings triggered significant sell-offs across global stock markets, as investors feared that the surge in inflation could prompt the Federal Reserve to alter its accommodative monetary…