US prices stay high, showing inflation pressures persist

The Associated Press

WASHINGTON (AP) – Consumer prices in the United States rose again in April, and measures of underlying inflation stayed high, a sign that further declines in inflation are likely to be slow and bumpy.

Prices increased 0.4% from March to April, up from a 0.1% rise from February to March. Compared with a year earlier, prices climbed 4.9%, down slightly from March’s year-over-year increase.

The April data provided some evidence of cooling inflation, a sign that sent stock prices higher in morning trading. Grocery prices fell for a second straight month. And the cost of many services, including airline fares and hotel rooms, plunged.

Read the full story on AP News right here.

(Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

5/10/2023 3:57:44 PM (GMT -5:00)