2022 Consumer Prices Are Still Climbing Rapidly Latest Updates

Inflation data showed a slowdown in annual price increases in April, but a closely watched monthly price measure continues to rise at an uncomfortably brisk rate

The pressures that have kept inflation elevated for months remain strong, fresh data released Wednesday showed, a challenge for households that are trying to shoulder rising expenses and for the White House and Federal Reserve as they try to put the economy on a steadier path

Annual inflation moderated for the first time in months in April, but the Consumer Price Index still increased 8.3 percent, an uncomfortably rapid pace

At the same time, a closely watched measure that subtracts food and fuel costs actually accelerated. U.S. Inflation Is Still Climbing Rapidly

Core inflation — which excludes costs for groceries and gas — picked up 0.6 percent in April from the prior month, faster than its 0.3 percent increase in March

That measure is particularly important for policymakers, who use it as a gauge to help determine where inflation is headed

While the letup in annual inflation may have given President Biden and the Fed a dose of comfort, the overall picture remains worrying

Policymakers have a long way to go to bring price increases down to more normal and stable levels, and the newest data is likely to keep them focused on trying to slow an inflation rate that remains near its fastest pace in 40 years

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