Inflation eased a bit last month, according to a report Wednesday from the Labor Department. Consumer prices in April were up 3.4% from a year ago — a smaller annual increase than the month before.
Inflation slowed last month, offering a note of relief to cash-strapped shoppers after three months of bigger-than-expected price increases.
Consumer prices in April were up 3.4% from a year ago, according to the Labor Department, a smaller annual increase than the month before. The cost of living rose 0.3% between March and April. Rising rents and gasoline prices were partially offset by falling prices for groceries, including household staples such as eggs and milk.
“Core” inflation, which strips out volatile food and energy prices, was 3.6% in April — the lowest reading in three years.
