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US inflation slowed last month for the first time since August 

US inflation slowed last month for the first time since August 



Ex-Trump economic adviser: Stimulus payments contributed to inflationReplayMore Videos ... (16 Videos)Ex-Trump economic adviser: Stimulus payments contributed to inflationAre you considering going back to your old job? Watch this first'Strong numbers': Romans breaks down April jobs reportHow the war in Ukraine is spiking costs for a UK supermarketHow the rise in interest rates will affect some Americans Biden adviser on the economic impact of overturning Roe v. WadeFed raises interest rates as it tries to catch up with inflation Redfin Chief Economist: Despite signs of the housing market cooling, prices will stay highFormer NY Fed chief: Fed was 'very late' in addressing inflationAnalyst: 'Lockdown in Shanghai will rock China's economy''We really shouldn't panic': CNN reporter breaks down US economy shrinkage'Puts me on the street': Americans forced out of homes as rents skyrocketInside the American struggle with rising energy prices3 reasons why Deutsche Bank is forecasting a recessionForget oil. Here's how Russia's war in Ukraine is jacking up food prices.Why mortgage rates will likely continue to riseNew York (CNN Business)US inflation took a breather last month for the first time since August. Prices still increased, but at a slower pace than in previous months.

The Consumer Price Index was up 8.3% in the 12 months ended in April, the Bureau of Labor Statistics reported Wednesday, slightly higher than economists had predicted. It was a decrease from the 8.5% recorded in March, which had been the highest level in more than 40 years.Stripping out more volatile product categories like food and energy, the CPI stood at 6.2% over the same period.For April alone, prices increased by 0.3%, adjusted for seasonal swings, less than the 1.2% jump recorded in March. Without food and energy prices, core inflation rose 0.6%, more than the 0.3% advance in the prior month.Wednesday's data suggests that the inflation peak is behind us, just as economists, the Federal Reserve, the White House and the American people hoped. But there are still a lot of factors that will keep prices elevated over the summer.Read MoreThe war in Ukraine has put pressure on energy and food prices. Meanwhile, renewed Covid-related lockdowns in China threaten to exacerbate the supply chain issues that the world has been struggling with over the past year. That means it's uncertain how much the pace of inflation can slow down until these things are resolved.This is a developing story. It will be updated.


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