US ECONOMY

Inflation Rate Slows to 8.3% in April

TeknikalRaman.com

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The rate decelerated from 8.5%, but the big picture is still discouraging

The inflation rate slowed for the first time in months, decelerating slightly to 8.3% in April from 8.5% in March,

US ECONOMY

but still coming in higher than economists had predicted as higher prices for food, housing, airfare, and new cars offset cheaper gas.

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The inflation rate for April slowed for the first time in months, though not as much as economists had forecast.

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Cheaper gas and a decline in used car prices helped bring it down to 8.3% from 8.5%.

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– Consumers continue to face higher prices for food, housing, and other items.

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– It’s going to be a while before households notice an improvement as many struggle to cope, economists say.

The Consumer Price Index this April was 8.3% higher than last April after it increased 0.3% over the month

more than the 0.2% economists forecast, but far less than the 1.2% increase during March, the Bureau of Labor Statistics said Wednesday.

The data shows many items continue to get more expensive, including basic necessities like groceries and housing

making the worst inflation in decades even more stubborn than some experts had realized and suggesting it will be a long, slow slog to return to a more typical 2% inflation rate.

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