Minneapolis CNN —Annual inflation continued its slow-but-steady deceleration in April, according to the latest Consumer Price Index released Wednesday.
The CPI climbed by 4.9% for the 12 months ended in April, according to the Bureau of Labor Statistics, representing a slightly slower pace of increase than the 5% in March.
It’s the 10th consecutive month that the headline CPI rate has slowed, and it’s at its lowest rate since April 2021 — when this bout of painfully high inflation started to spike.
Excluding food and energy costs, which tend to have more volatility, core CPI was unchanged at 5.5% for the 12 months ended in April.
A welcome decline — albeit a slight one — came in the category of grocery prices, which fell 0.2% over the month, helping bring the annual rate of inflation there to 7.1%.