US inflation slowed last month for the first time since August

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.