Inflation rises an annual rate of 3.2 percent in April

Americans are quickly learning that trips to the grocery store and their monthly utility bills are costing them much more than they did last year.

According to the latest Consumer Price Index, inflation surged to its fastest annual rate in more than two years in April. The U.S. Bureau of Labor Statistics reported that the index rose 0.4 percent in April, leading to a year-over-year increase of 3.2 percent.

Gas prices have been the greatest burden for consumers, rising 3.3 percent last month. Since April 2010, fuel prices have increased 33.1 percent.

The cost of food rose 0.4 percent last month, and 3.2 percent since the previous April. With the cost of necessary goods, like food and gas, on the rise, a number of Americans are looking for ways to save money and improve their financial situations.

Many consumers have learned that boosting their credit scores may help them save large sums of money on interest for any credit accounts they hold.

While becoming more responsible with credit can help consumers improve their three-digit numbers, some individuals may be able to get a quick credit fix through credit repair.

People who have a questionable or troublesome item – one that was either reported in error or against federal guidelines – on their credit reports may qualify for credit repair. Working with a credit repair company to identify and challenge these marks may give consumers the credit score help they need to qualify for money-saving interest rates.