inflation, consumer price index and April
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Inflation was relatively mild in April, but economists said tariffs will end a recent lull and push up more prices in the coming months. The consumer-price index rose a seasonally adjusted 0.2% in April,
The April consumer price index, a key gauge of U.S. inflation, came in slightly lower than economists expected at 2.3% in April, but was still higher than the Federal Reserve's 2% goal. CBS News MoneyWatch correspondent Kelly O'Grady has more.
U.S. consumer prices rebounded moderately in April as declining food costs partially offset rising rents, leading to the smallest annual increase in four years, but the inflation outlook remains unclear against the backdrop of tariffs.
Inflation slowed to the lowest point in four years last month, but progress in reining it in will likely end there as higher tariffs start to push up the cost of consumer goods. The consumer price index climbed 2.
Inflation eased in April with drops in gas and egg prices, but ODU's Bob McNab warns tariffs could drive prices back up this summer.
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Inflation retreated again in April on the back of lower prices for consumer staples like groceries and gasoline, and other items such as used cars and clothing. The consumer price index, a key inflation gauge, rose 2.3% in April from 12 months earlier, down from 2.4% in March, the Bureau of Labor Statistics reported Tuesday.
Shelter costs, the consumer price index’s measure of how much people pay for housing, were up again last month. The sector, a persistently inflationary category, is proving a headache for economists and Fed officials looking to rein in price growth.