Consumer prices in April were up 2.3% from a year ago, the smallest annual increase in more than four years. Grocery prices fell 0.4%, thanks to a large drop in the price of eggs.
Egg prices declined last month as egg producers began to recover from a lengthy battle with avian flu. Retail egg prices fell 12.7% between March and April but are still more than 49% higher than in April of last year.Labor Department on Tuesday
show consumer prices in April were up 2.3% from a year ago. That's the smallest annual increase since February of 2021. Prices rose 0.2% between March and April, after a modest decline the previous month. Housing costs accounted for much of the monthly increase, while prices for natural gas, electricity and auto insurance also rose in April.Despite the muted price hikes last month, uncertainty remains about the outlook. So far, the trade war that ramped up at the beginning of April has had only a limited effect on retail prices, but analysts say higher tariffs may become more visible in future months.
Egg prices, which have been a poster child for the high cost of living, plunged 12.7% in April, as farmers got a seasonal reprieve from a lengthy battle with avian flu. Egg prices are still 49.3% higher than they were a year ago.Scott Horsley is NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities.
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