Inflation rates edged down in April compared to a month earlier, showing potential signs of easing

While inflation remains painfully high, the pace of higher prices showed some signs of easing in April, as prices rose 8.3 percent compared with a year ago and 0.3 percent compared to the month before, the slowest increase since last summer.

Data released Wednesday by the Bureau of Labor Statistics may give policymakers some nascent hope that soaring inflation may be starting to slow down, even as households continue to feel the pain. For example, March prices rose at a sharper pace, 8.5 percent compared to previous year, and 1.2...