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.
, 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 nation’s inflation rate has steadily cooled since peaking at 9.1% last June but remains far above the Federal Reserve’s 2% target rate. Still, the data offered some signs that inflation is continuing to cool. Airline fares dropped 2.6% in April, and hotel prices plunged 3% after four straight monthly increases.
Compared with a year ago, core inflation rose 5.5%, just below a year-over-year increase of 5.6% in March.
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