Small drop in US CPI hints at inflation reprieve

Federal Reserve

Inflation in the US dipped slightly in April, figures released today (May 11) show, prompting many economists to say the US has passed the peak increase in prices.

The consumer price index (CPI) was 8.3% year on year in April, down from 8.5% in March. Food and energy inflation both decreased relative to March. Used cars, which saw rapid price rises in 2021, added to several months of falling prices, down 0.4% on last month.

Many economists suggested the US would now see inflation continue to

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