US inflation rate slows but remains close to 40-year high
by Dominic Rushe in New York from on (#5Z3VH)
Consumer price index reveals costs rising by a monthly rate of 0.3% in April, down from 1.2% in March, the first fall since August 2021
Price rises slowed in the US in April but the annual inflation rate remained close to a 40-year high, leaving many Americans struggling to afford necessities including food, shelter and fuel.
The latest consumer price index (CPI) figures - which measure a broad range of goods and services - showed prices rising by a monthly rate of 0.3% in April, down from 1.2% in March, the first fall since August 2021.
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