The costs of services — from restaurant meals to auto insurance, dental care to education — are still surging.
WASHINGTON — Consumer prices in the United States rose again in April, and measures of underlyingPrices rose 0.4% from March to April, the government said Wednesday, up from 0.1% from February to March. Compared with a year earlier, prices climbed 4.9%, down slightly from March’s year-over-year increase.has steadily cooled since peaking at 9.1% last June but remains far above the Federal Reserve’s 2% target rate.
The supply chain snarls that left many grocery shelves bare and delayed the delivery of furniture, cars, electronics and numerous other goods have been resolved.since topping $5 a gallon nationally after Russia’s invasion of Ukraine, though they rose again in April after OPEC agreed to cut oil output.
For more than two years, high inflation has been a significant burden for America’s consumers, a threat to the economy and a frustrating challenge for the Fed. The central bank has raised its key interest rate by a substantial 5 percentage points since March 2022 to try to drive inflation back down to its 2% target.
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