April CPI Report: What the Experts Are Saying About Inflation

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Inflation cooled moderately last month, with prices rising by less than 5% on an annual basis for the first time in two years. The slower rate of inflation, which came in below economists’ expectations, should give the Federal Reserve room to pause its long campaign of interest rate hikes at the next Fed meeting.

The Consumer Price Index (CPI) for April rose 4.9% year-over-year, vs March’s gain of 5%, the Bureau of Labor Statistics (opens in new tab) said Wednesday. The Federal Reserve Bank of Cleveland’s (opens in new tab) “Nowcast” forecast annual inflation to increase by 5.2%. 

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