The Consumer Price Index (CPI) rose 1.7% year over year in April, down from a 2.3% increase in March. The slowdown in April was driven by lower energy prices, which fell 12.7% following a 0.3% decline in March. Excluding energy, the CPI rose 2.9% in April, following a 2.5% increase in March.
Moderating the slowdown in the CPI in April were higher prices for travel tours (+6.7%) and food purchased from stores (+3.8%).
On a monthly basis, the CPI fell 0.1% in April. On a seasonally adjusted monthly basis, the CPI was down 0.2%.
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