The rate of inflation is now 4.9%, according to April data from the Bureau of Labor Statistics.
Inflation in April continued its steady cooldown, but its slow pace shows it’s still resilient, too, according to the Bureau of Labor Statistics’ consumer price index report released Wednesday. Here’s what else you need to know.April marked the 10th month in a row of overall inflation decreases.for all items rose 4.9% for the past 12 months throughout April, down from 5% in March. It’s a small decline, but it makes April the lowest annual increase since April 2021.
Why would core inflation overpower overall inflation? When you remove food and energy, services remain elevated. The index for services is still up 6.8% over the last 12 months, including shelter, transportation and medical care.Energy was showing signs of slowing with a 3.5% decline from February to March, but it’s now up 0.6% in April. The increase was primarily due to gasoline, which rose 3% in April after a 4.6% decline in March.
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