US News | The Epoch Times

US Annual Inflation Rate Dips Below 5 Percent for First Time in 2 Years US News | The Epoch Times https://ift.tt/QmkPq6p The U.S. annual inflation rate slowed to 4.9 percent in April, down from 5 percent in March, according to the Bureau of Labor Statistics (BLS). This is slightly lower than the consensus estimate of 5 percent. This represented the 10th consecutive monthly drop in the annual inflation rate. However, the consumer price index (CPI) rose 0.4 percent month-over-month, up from 0.1 percent in March. The huge jump in the monthly CPI was largely driven by increases in shelter costs, gasoline, and used vehicles. The core inflation rate, which strips the volatile food and energy components, also dipped to 5.5 percent annually in April, down from 5.6 percent in March. This matched market expectations. However, the core CPI jumped 0.4 percent from March to April, remaining steady from March.... May 10, 2023 at 05:42AM https://ift.tt/PuyU8Bd Andrew Moran https://ift.tt/3GNRVsx