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A shopper in Greenville, New York, April 30, 2023.
Robert Nickelsberg | Getty Images News | Getty Images
Inflation in April notched its lowest reading in two years, as price pressures for consumers continue to moderate from multidecade highs and costs for household staples appear to be in retreat.
The consumer price index, a key barometer of inflation, increased 4.9% in April versus a year ago. That is the smallest annual reading since April 2021, the U.S. Bureau of Labor Statistics, or BLS, said Wednesday.
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The index also fell from 5% in March, marking the 10th consecutive month of declines.
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Source cnbc.com
