Inflation on the rise in the U.S.

OMAHA, N.E.(KELO)- Inflation on the move higher again.

The Consumer Price Index rose four-tenths-of-a-percent last month, as the pace of inflation picks up.

That’s going to bring disappointment to those looking for the Federal Reserve Board to cut interest rates at the end of June, according to Creighton Unversity Economist Ernie Goss.

The Fed has increased interest rates in an effort to tame spending and inflation.

Those efforts have been foiled by too much government spending.