April CPI Shows Slower Climb, Led by Easing Food Prices

The Consumer Price Index (CPI) rose by 2.7% year-over-year in April, a slight ease from March’s 2.9% gain. This broad-based deceleration was driven by slower increases in food prices, services, and durable goods. Notably, food prices saw a significant slowdown, with store-bought food rising only 1.4% compared to March’s 1.9%.  See graph showing how much food prices have decelerated since 2022.