CPI report shows US inflation easing in April, with consumer prices still rising 3.4% from a year ago

Source: CNBC

“Inflation eased slightly in April, providing at least a bit of relief for consumers while still holding above levels that would suggest a cut in interest rates is imminent. The consumer price index, a broad measure of how much goods and services cost at the cash register, increased 0.3% from March, the Labor Department’s Bureau of Labor Statistics reported Wednesday. That was slightly below the Dow Jones estimate for 0.4%. On a 12-month basis, however, the CPI increased 3.4%, in line with expectations.” (05/15/24)