Consumer prices rose 2.3% in April from a year ago, the Labor Department said Tuesday, down from 2.4% in March and the smallest increase in more than four years. On a monthly basis, prices rose modestly, increasing 0.2% from March to April after falling 0.1% the previous month, the first drop in five years.
Grocery prices dipped 0.4%, pulled downward in part by a big 12.7% fall in the price of eggs. It was the biggest decline in food costs at home since September 2020, the government said.
The report suggests the tariffs haven't yet impacted the prices of many items. Clothing costs fell 0.2% from March to April, while new car prices were unchanged. Furniture costs jumped 1.5%, however.
