According to the Bureau of Labor Statistics US consumer price inflation slowed somewhat last month, rising 8.3 percent compared to April 2021
For the first time since August, inflation slowed down last month. Prices continued to rise, although more slowly than in prior months.
It was down from the 8.5 percent reported in March, which was the highest level in almost 40 years.
When more volatile product categories like food and energy are excluded, the CPI for the same period was 6.2 percent, down from 6.5 percent in March
Energy and food costs have been impacted by the conflict in Ukraine. & fresh Covid-related lockdowns in China also affecting inflation
Energy costs, decreased in April as gasoline prices declined from their March highs. Energy costs increased by 30.3 percent in the last year.
Housing, food, airline flights, and new cars all continued to grow in price last month, and annual inflation remained at its highest level since early 1982.
The meat, poultry, fish, and egg index increased 14.3 percent, the most since May 1979.
Dairy and cereal prices rose significantly in the month, despite fruit and vegetable prices falling.
US inflation in June, hit 40-year high
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