BUSINESS + ECONOMY

Annual inflation cooled off slightly in April

May 10, 2023, 6:45 AM | Updated: 7:19 am

Annual inflation continued its slow-but-steady deceleration in April, according to the latest Consu...

(Elijah Nouvelage/ AFP/Getty Images)

CNN Wiresource

Originally Published: 10 MAY 23 08:33 ET

(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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