Grocery, Airfare Inflation Reached Historic Highs in April; Gas Prices Eased
Used car costs began to moderate, but new vehicles were more expensive last month
Americans paid less for gasoline but more for groceries and air travel last month as the broader pace of inflation eased slightly but remained historically high.
A fall in energy costs led the way toward the smaller overall gain, with gasoline prices dropping a seasonally-adjusted 6.1% in April, following a steep advance in crude-oil prices in March after Russia’s invasion of Ukraine. Groceries rose by 1% over March and were up 10.8% over the last 12 months, the largest 12-month increase since November 1980, the Labor Department said.
