Photo: FREDERIC J. BROWN / Getty Images
For: Real America News Updated 11 May 2022, 9: 00 am WBS
Year-on-year inflation fell in April, but remain at record levels, standing at 8.3%, according to the most recent report from the Bureau of Labor Statistics.
Although the data is lower compared to the 8.5% reported last April, the Consumer Price Index (CPI) continues to show levels not seen in the last 11 years.
According to the report, the data for April showed an increase of 0.3% , a lower figure compared to the jump that inflation gave last March 1.2%, according to the Bureau of Labor Statistics.
During April, the price of gasoline, which had maintained a constant rate of growth in its prices, fell; however, now food
was one of the factors that greater force drove the inflationary rise.
In annual terms, the food index rose 9.4%, the largest increase in 30 months from April 1981 , which shows that prices remain at record levels not seen in recent times 40 years.
According to the report, the food price index grew 0.9% during April, while lto gasoline had a decrease of 6.1% during the past month, after a series of increases that accelerated with the military crisis in Ukraine.
However, this Wednesday, the price of a gallon of gasoline rose again and stood at a national average of $4,40 dollars per gallon, just $0.03 cents of the historical record of last March.
In annual terms, the energy component of the CPI had an increase of 30.3% in the last year, which still keeps it well above the levels seen in recent decades.
The data on inflation in the country comes a few days after the Federal Reserve (Fed) decided increase interest rates by half a percentage point , in an attempt to control the escalation of prices.
However, the decisions of the central bank have been questioned by a sector that assures that the step has been late and that the increase in rates will lead the country into a recession in 2023, after the re contraction of the economy in the first quarter of the year.
In addition to food, the prices of housing, airfares and the cost of new vehicles were the other three components that fed the data inflation during April.
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