US inflation was slightly weaker than forecast in April, in a positive sign that the Federal Reserve’s cycle of interest rate rises is bringing price rises under control.
Consumer price inflation dipped to an annual rate of 4.9 per cent, its lowest level since April 2021. Economists had expected it to remain steady at 5 per cent.
Lower airline fares helped bring down the total, though inflation remained strong in some areas such as used car prices and still has some way to go to meet the central bank’s 2 per cent target.
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