The fresh inflation data comes one week after the Fed imposed its latest rate hike.
Consumer prices rose 4.9% last month compared to a year ago, extending a monthslong slowdown and bolstering hopes that inflation will continue its return back to normal levels.
The fresh data aligns with the Federal Reserve’s effort to slow the economy and slash prices while averting a recession.
In a note of caution, however, consumer prices rose 0.4% in April compared to the previous month, suggesting that price increases persist, the data showed.
Food prices continue to rise faster than overall inflation, jumping 7.7% over the past year. The price of cereal and bakery products rose about 12% compared to a year ago, while the cost of flour climbed nearly 18%.
The price of eggs rose 21% compared to a year ago — a rapid pace but a slowdown from previous months after an avian flu outbreak devastated supply.
Some grocery items, however, have dropped in price over the past year, including beef, bacon and breakfast sausage.
Prices for airlines fares have also decreased slightly over the past year.
The Fed last week escalated an aggressive series of interest rate increases with a quarter-point hike.
