CPI: Inflation high in April as Fed weighs rate cuts

The first few months of the year brought back the specter of rising inflation during a long fight to bring prices back under control. On Wednesday, the first signs of optimism in 2024 arrived.

New data released from the Bureau of Labor Statistics showed prices rose 3.4 percent in April compared with the year before. That’s down a bit from the 3.5 percent notched in March, and the shift follows months of hotter-than-expected reports. Prices rose 0.3 percent compared with the month before.