Economics
What Peak? US Inflation Data Show Still-Torrid Price Pressures
- Services costs, most goods prices rise at rapid rates in April
- Data keeps pressure on Fed, Biden to ease cost of living
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Americans got little respite from inflation in April, as prices for a range of necessities and discretionary-spending categories continued to climb at some of the fastest-ever rates.
While annual measures of consumer prices cooled slightly from March -- signaling a peak that economists expected -- the details of a report Wednesday painted a more troubling picture as monthly figures advanced more than forecast. Services costs accelerated and inflation for most goods remained stubbornly high, underscoring the persistence and breadth of price pressures.