US inflation Dips From 4 Decade High : Inflation eased slightly in April after months of relentless increases but remained near 4 decade high making it hard for millions of Americans household to keep up with surging prices .
Consumer prices jumped 8.3% last month from year ago, the government said Wednesday. That was below the 8.5% year over year surge in March, which was the highest since 1981. Hone monthly basis prices Rose .3% from March to April the smallest rise in 8 months.
Still Wednesday report content some cautionary signs that inflation maybe becoming more entrenched. Excluding the volatile food and energy categories so called core prices jumped twice is much from March to April HD did the previous months. The increases were filled by spiking price for airline ticket hotels and new cars apartment rental cost also keep rising.
Those price jump make clear that there is still a long way to go before inflation return to more acceptable level said Eric Winograd. US economist at asset manager AB.
Even if it moderates inflation bill likely remain high well into 2023 economist says leaving many Americans burdenned by price increases that have outpaced Pay raises. Especially hurt are lower income and black and Hispanic families who on average spend a greater proportional of their income on gas ,food and rent.