Friday’s report from the Commerce Department showed that an index that excludes volatile food and energy costs rose 0.2% from March to April, down from 0.3% in the previous month. It was the mildest such increase so far this year. Measured from 12 months earlier, such so-called “core” prices climbed 2.8% in April, the same as in March. Overall inflation increased 0.3% from March to April, the same as in the previous month, and 2.7% from a year earlier, also unchanged from March's figure.
Many Americans, particularly lower-income workers, have been pulling back on spending as they struggle to keep up with rising expenses, leading some businesses to rein in prices. In recent weeks, chains including McDonald's, Target and Walmart have announced price reductions or temporary discount deals. Grocery prices eased last month, according to Friday's report, though they're still up significantly from before the pandemic.
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