Inflation rises to 5% through April, fastest rise since 2008

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Inflation jumps to 5% through April in fastest rise in consumer prices since Great Recession

Inflation rose faster in May than at any time since the Great Recession, as consumers face higher prices for everyday goods and services.

In its report on Thursday, the government said total consumer prices rose 0.6 percent in May, bringing inflation to 5 percent last year, the highest level since August 2008.

Core inflation, which excludes volatile energy and food costs, rose 0.7 percent in May after an even bigger jump in April, and is up 3.8 in the past 12 months, the fastest pace since 1992.

Developing story, come back for updates.

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