The inflation rate was little changed from March to April, a potential sign that the rapid growth in the cost of goods and services may soon taper off.
Consumer prices rose 0.3 percent in April after rising 1.2 percent in March, according to data released by the U.S. Bureau of Labor Statistics on Wednesday. Compared with one year ago, the inflation rate grew 8.3 percent in April. The number in March was 8.5 percent.
April’s core inflation measure — the change in the price of goods and services not including food and energy — was 0.6 percent compared to 0.3 percent one month ago in March.