BUSINESS + ECONOMY
Annual inflation cooled off slightly in April
May 10, 2023, 6:45 AM | Updated: 7:19 am
(Elijah Nouvelage/ AFP/Getty Images)
(CNN) — Annual inflation continued its slow-but-steady deceleration in April, according to the latest Consumer Price Index released Wednesday.
The CPI climbed by 4.9% for the 12 months ended in April, according to the Bureau of Labor Statistics, representing a slightly slower pace of increase than the 5% in March. It was below economists’ expectations for the number to remain unchanged.
It’s the 10th consecutive month that the headline CPI rate has slowed.
This story is developing.
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