April CPI Report Shows Inflation Easing, But Consumer Prices Up 3.4% Year-Over-Year

The Consumer Price Index (CPI) report for April showed a 0.3% increase from March, indicating that inflation is easing slightly. However, consumer prices are still up 3.4% from a year ago, matching expectations. Core inflation, excluding food and energy, was 3.6%, the lowest since April 2021.