Inflation rates have eased, with consumer prices rising 2.3% annually, marking the smallest gain since February 2021. The Labor Department noted a 0.2% monthly increase, largely driven by housing costs, while gasoline and grocery prices saw notable declines. Despite the respite in inflation, uncertainty looms due to potential impacts from the ongoing trade war. Notably, furniture prices spiked 1.5%, and while core inflation remained unchanged at 2.8%, egg prices dropped significantly by 12.7%, although still 49.3% higher than the previous year due to prior challenges from avian flu.
Inflation eased last month as shoppers got a break at both the grocery store and the gas station.
Prices rose 0.2% between March and April, after a modest decline the previous month.
Despite the muted price hikes last month, uncertainty remains about the outlook.
Egg prices, which have been a poster child for the high cost of living, plunged 12.7% in April.
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