Page 22 - Powell Fed News Today

Kevin McCarthy used Joe Bidens own words against him on Wednesday, claiming he has caused an ultra-unaffordable economy as new figures show 8.3 percent inflation in April.

Consumer prices jumped 8.3% last month from 12 months earlier, the Labor Department said Wednesday.

Consumer prices were up 8.3% in April, down slightly from March.

WASHINGTON — Inflation slowed in April after seven months of relentless gains, a tentative sign that price increases may be peaking while still imposing a financial strain on American households. Consumer prices jumped 8.3% last month from 12 months earlier, the Labor Department said Wednesday. That was below the 8.5%

By CHRISTOPHER RUGABERAP Economics Writer

On a month-to-month basis, prices rose 0.3% from March to April, a still-elevated rate but the smallest increase in eight months.

U.S. inflation slowed in April after seven months of relentless gains, a tentative sign that price increases may be peaking while still imposing a financial strain on American households.

U.S. inflation eased slightly from March’s 40-year-high and is now at an annual rate of 8.3% according to a Wednesday Labor Department report. But, basics like groceries and gas were still up by double digits over a year ago.

Price hikes led by gas, which reached a record $4.40 national average, according to AAA.

Grocery prices up 10.8%, steak is “almost out of the question”