Inflation cooled in April: consumer prices rose by 4.9% annually, falling below 5% for the first time since June 2021. It’s also the slowest growth in two years, the Bureau of Labor Statistics said Wednesday.
Core inflation, excluding volatile energy and food costs, rose by 5.5%.
For two years, high inflation has been a significant burden on American consumers, a constant threat to the economy and a vexing challenge for the Federal Reserve, which has raised its key interest rate at its fastest rate since the 1980s to try to slow the economy. and inhibits price growth.
This is a developing story.
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