Inflation is easing but still a big issue for most Americans
Posted By RichC on May 15, 2024
U.S. inflation eased slightly in April, with a key measure of price pressures slowing to its lowest level since spring 2021.
The consumer-price index, a gauge for goods and service costs across the U.S. economy, rose 3.4% in April from a year ago, the Labor Department said Wednesday. So-called core prices that exclude volatile food and energy items climbed 3.6% annually, the lowest increase since April 2021. Both figures were in line with economists’ expectations.
Investors saw positive signs in the report that the Federal Reserve’s inflation fight is gradually slowing down the U.S. economy. The yields on 10-year Treasurys, which fall as prices rise, ticked lower. Stocks advanced, continuing their march higher in May.
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