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.
