Inflation increases for second straight month by 0.4% – as Americans hit with higher prices at the pump [Video]

Price increases are getting steeper, according to new numbers released by the Bureau of Labor Statistics on Wednesday.

The federal agency revealed consumers are paying 3.5% more than a year ago as inflation continues.

The rate of inflation rose by 0.4% since last month, when it ticked up by the same amount.

The increase was across all categories of goods and services, with gas prices seeing a hefty rise.

Nationwide, average gas prices are up by about 22 cents, according to AAA.

Every month, BLS reveals the Consumer Price Index, which measures how the price of goods has changed over the previous year. 

The CPI is currently 3.5%, meaning Americans pay that much more on goods and services now than they did in March 2023.

The rate is down significantly from its peak last year, when the Index hit 7.1%.

While inflation has cooled, the past two months …