Inflation rose 4.9% in April from a year ago, less than expectations

Posted on AllSides May 10th, 2023
From The Center

A widely followed measure of inflation rose in April, despite more than a year’s worth of Federal Reserve interest rate increases.

The consumer price index, which measures the cost of a broad swath of goods and services, increased 0.4% for the month, in line with the Dow Jones estimate, according to a Labor Department report Wednesday.

However, that equated to an annual increase of 4.9%, slightly less than the 5% estimate.

Excluding volatile food and energy categories, core CPI rose 0.4% monthly and 5.5% from a year ago both in...

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