Egg prices declined last month as egg producers began to recover from a lengthy battle with avian flu. Retail egg prices fell 12.7% between March and April but are still more than 49% higher than in April of last year.
Justin Sullivan/Getty Images North America
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Justin Sullivan/Getty Images North America
Inflation eased last month as shoppers got a break at both the grocery store and the gas station.
Cost of living figures released by the Labor Department Tuesday show consumer prices in April were up 2.3% percent from a year ago. That’s the smallest annual increase since February of 2021.
Prices rose 0.2% between March and April, after a modest decline the previous month. Housing costs accounted for much of the monthly increase, while prices for natural gas, electricity and auto insurance also rose in April.
Despite the muted price hikes last month, uncertainty remains about the outlook. So far, the trade war that ramped up at the beginning of April has has only a limited effect on retail prices, but analysts say higher tariffs may become more visible in future months.
An early sign of that was furniture costs, which rose 1.5% in April.
Inflation was kept in check last month by a decline in both gasoline and grocery prices.
Egg prices, which have been a poster child for the high cost of living, plunged 12.7% in April, as farmers got a seasonal reprieve from a lengthy battle with avian flu. Egg prices are still 49.3% higher they were a year ago.
Stripping out volatile food and energy prices, “core” inflation was 2.8% in April — unchanged from the previous month.
