US inflation at 3.4% in April, dropping slightly from previous month

Policymakers have been surprised by stubborn price growth, which they hoped to bring down to 2%, in recent months

Inflation across the US eased slightly last month as concerns about the cost of living loomed over the battle between Joe Biden and Donald Trump for the White House.

The closely watched consumer price index (CPI) rose at an annual rate of 3.4% in April, down from an annual pace of 3.5% the previous month.