The report could ease concerns that progress on moderating consumer prices had stalled out.
Share on linkedin A customer shops at a supermarket in Millbrae, Calif. Photo: Li Jianguo/Xinhua via Getty Images rose 0.3% in April and the core measure that strips out food and energy increased by the same amount, the Labor Department said on Wednesday. Inflation slowed for the first time this year, helping ease concerns that progress on moderating consumer prices hadThe report on Wednesday showed the overall consumer price index increased 3.4% over the last 12 months, compared to 3.
The slight cooldown in price increases come after a stretch of data showing inflation had stopped slowing after big declines last year. Then, signs that inflation was normalizing helped lift moods among American consumers that had been soured by big price increases for a slew of goods and services since mid-2021.: Federal Reserve officials had signaled intentions to lower interest rates they raised sharply in the wake of the inflation shock.on slowing inflation.: While inflation looks like it will be more difficult to beat than previously thought, the economy has not wavered much.
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