The Labor Department announced on Wednesday the U.S. consumer price index (CPI) rose 0.8 percent m-o-m in April, following an unrevised 0.6 percent m-o-m advance in the previous month.

Over the last 12 months, the CPI climbed 4.2 percent y-o-y, accelerating noticeably from +2.6 percent y-o-y reported for the period ending in March. This was the highest reading since September 2008.

Economists had forecast the CPI to increase 0.2 percent m-o-m and 3.6 percent y-o-y in the 12-month period.

According to the report, еhe index for used cars and trucks surged 10.0 percent m-o-m in April, recording its largest one-month increase since the series began in 1953 and accounting for over a third of the seasonally adjusted all items climb. In addition, the food index rose 0.4 percent. Meanwhile, the energy index edged down 0.1 percent m-o-m, as a drop in the index for gasoline more than offset gains in the indexes for electricity and natural gas.

The core CPI excluding volatile food and fuel costs jumped 0.9 percent m-o-m in April after an unrevised 0.3 percent m-o-m uptick in the previous month. This was the largest monthly increase since April 1982.

In the 12 months through April, the core CPI climbed 3.0 percent compared to an unrevised 1.6 percent advance for the 12 months ending March.

Economists had forecast the core CPI to increase 0.3 percent m-o-m and to jump 2.3 percent y-o-y last month.