The Bureau of Labor Statistics (BLS) released its April Consumer Price Index (CPI) report on Wednesday morning, and it's more bad news for the Biden administration and the Federal Reserve as their half-hearted fight to tame inflation continues to look largely ineffective at making a noticeable difference for the American people. CPI inflation increased 0.4 percent in April, while costs rose 4.9 percent in the last 12 months. The core CPI number — excluding more volatile food and energy prices — also increased 0.4 percent month-over-month for April for a 5.5 percent annual advance.