![]() Core prices are regarded as a reliable gauge of longer-term inflation trends. It was the fifth straight month that they have risen at least 0.4%. Measured year over year, last month’s decline in inflation was much less than in previous months, underscoring that consumer price increases might not fall back to the Fed’s 2% target until at least well into next year.Įxcluding volatile energy and food costs, so-called core prices rose 0.4% from March to April, the same as from February to March. The Federal Reserve’s policymakers have been closely watching services prices, and April’s figures could lead them to do what they had signaled after their meeting last week: Pause their rate hikes, after 10 straight increases, while they assess the economic impact the higher borrowing costs have had. Though apartment rents rose in April, they did so more slowly than in previous months. And the cost of many services, including airline fares and hotel rooms, plunged. Grocery prices fell for a second straight month. ![]() It was the smallest annual increase in two years.Įven with price pressures rising in April, the latest data did provide some evidence of cooling inflation. Compared with a year earlier, prices climbed 4.9%, down slightly from March’s year-over-year increase. Prices increased 0.4% from March to April, the government said Wednesday, up sharply from a 0.1% rise from February to March. WASHINGTON (AP) - Consumer prices in the United States rose again in April, and measures of underlying inflation stayed high, a sign that further declines in inflation are likely to be slow and bumpy.
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