U.S. inflation up 0.4 percent in April

The U.S. consumer price index (CPI) climbed 0.4 percent in April from the previous month, according to data published Wednesday by the U.S. Bureau of Labor Statistics, Azerbaijan reports citing Xinhua.

Inflation grew 4.9 percent from the same period a year ago.

The widely-watched core CPI, which strips out energy and food, ticked up 0.4 percent in April month on month, and 5.5 percent year on year.

The United States is seeing the worst inflation in decades, despite the Federal Reserve's aggressive interest rate hiking cycle.

The Fed has raised rates 10 consecutive times since March last year, which has pushed up benchmark borrowing rates to the highest they've been in roughly 16 years.