Headline RoundupMay 11th, 2022

Inflation Slows Sharply but Remains High at 8.3%

Summary from the AllSides News Team

Inflation slowed down in April but remained high, according to the Labor Department’s monthly CPI report

Consumer prices rose 0.3% in April, a sharp deceleration from March’s 1.2% increase. Annual inflation also slowed to 8.3%, down from March's 8.5% but higher than analysts' expected 8.1%. 

Core inflation, which excludes volatile food and energy prices, rose 0.6% in April, suggesting inflation was broad-based. Energy prices declined 2.7% in April for the first time in months, although average gas prices reached record highs in early May. Other sectors with price drops included apparel and used vehicles. Housing, food, airline fares and new vehicles were the largest contributors to price growth. 

Coverage across the spectrum conveyed more nuance than in previous months, portraying inflation as high but slowing down. Headlines in major right-rated outlets — and some left and center-rated outlets — said inflation “soared,” “surged” and “barreled ahead.” Meanwhile, left-rated outlets were more likely to focus on areas where inflation slowed down. 

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