Inflation rises 4.9% from year ago

In April, a widely observed indicator of inflation recorded an increase, although the rate of growth provided some optimism that living costs may taper off later in the year.

According to a report from the Labor Department on Wednesday, the consumer price index (CPI), which measures the cost of a wide range of goods and services, rose by 0.4% for the month, aligning with the estimate provided by Dow Jones.

However, this resulted in an annual increase of 4.9%, slightly below the estimated 5% and the slowest annual pace since April 2021, CNBC reported.

"Inflation rate eases to 4.9% in April, less than expectations"
READ MORE: https://www.cnbc.com/2023/05/10/cpi-inflation-april-2023.html

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