The inflation rate was largely unchanged from March to April, a potential signal that the rapid growth in the cost of goods and services might slow down soon.
- Consumer prices increased by 0.3% in April after rising 1.2% in March. Compared with a year ago, the inflation rate expanded by 8.3% in April. The figure in March was 8.5%.
- April’s core inflation measure, excluding volatile food and energy prices, was 0.6% compared to 0.3% one month ago in March.
- Households are feeling the squeeze of rising prices. The largest increases for April were reported in airfares, food including meat and bread, shelter, and new vehicles.
Even though in April gas prices dropped 6.1% over the prior month, prices at the pump were already easing at all-time highs this week.
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Source: US Bureau of Labor Statistics
