Inflation Surged Again In April – But Could Be Slowing Down

New data from the U.S. Labor Department shows inflation continued to surge in April – but could be showing signs of slowing down.

Consumer prices were up 8.3% last month over the previous year – down slightly from 8.5% in March, which was the largest spike in 40 years.

Month-to-month, prices went up 0.3% from March to April, the smallest increase since last fall.

That gives some economists hope that inflation is slowing down – though one analyst told ABC News there’s “still a long way to go”.

Inflation slowed in April after seven months of relentless gains, a tentative sign that price increases may be peaking while still imposing a financial strain on American households. https://t.co/aK53AxYy4f pic.twitter.com/3mcgZ1w1WR

— ABC News Live (@ABCNewsLive) May 11, 2022