US inflation slows in April after seven months of gains

US inflation slowed in April after seven months of steady gains, according to new Labor Department figures.

Consumer prices were up 8.3% last month compared to 12 months earlier – below the 8.5% year-on-year surge seen in March, which was the highest rate since 1981.

Despite April’s figure being the first deceleration since August last year, it was the seventh
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