US CPI inflation slows to two-year low

Shelter costs contribute to sticky core inflation, but headline CPI comes in below expectations

US rising inflation

US consumer price index inflation slowed to 4.9% year on year in April, the US Bureau of Labor Statistics said today (May 10).

“This was the smallest 12-month increase since the period ending April 2021,” said the BLS.

Core inflation, which strips out food and energy prices to get a stabler picture of inflation, was 5.5% year on year in April.

The inflation figures – core and headline, both down 0.1 percentage points from a month earlier – were broadly in line with market expectations

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