CPI Report Shows Inflation Eased in April

Inflation eased to 4.9% in April as the economy showed signs of cooling.

Inflation has cooled from its recent peak, but remains stubbornly elevated. The Federal Reserve aggressively raised rates for more than a year to try to tame inflation by slowing economic activity, and indicated last week it might be done lifting them for now.

The Fed is looking to see signs of inflation declining toward its 2% target. April’s rise comes after prices rose 5% in March from a year earlier.

Consumer prices rose a seasonally adjusted 0.4% in April from the...