It’s getting to be a broken record: a cooling, but still growing, economy and a painfully slow decline in inflation. The consumer price index (CPI) came in about as forecast in April, a relief from several months of hotter than expected readings.
- On a month-over-month basis, the headline CPI rose 0.3%, just under expectations of 0.4%, and less than last month’s 0.4%. The core gained 0.3% month over month as expected, less than the previous month’s 0.4%.
- The year-over-year figures were exactly on target for both the headline and the core.