Americans Get Little Relief from Inflation in April

Americans likely saw little relief from inflation in April, as consumer price data to be released Wednesday is projected to show that U.S. inflation remained stubbornly high. Prices are forecasted to have risen 0.4% from March, and compared with a year earlier, prices are expected to have jumped 5%. This would mark the first time annual inflation has not fallen after nine months of declines. The cause of this could be attributed to pricier gasoline, apartment rents and possibly used cars accelerating last month’s figures.

Inflation has been steadily declining for nearly a year now; however, it appears we may be entering into a new phase where it will remain sticky at its current level or even increase further over time if these projections prove accurate. The Federal Reserve is keeping an eye on the situation but currently does not expect any drastic changes in policy due to their belief that rising prices are temporary rather than a long-term trend. It remains unclear how much longer Americans will experience this higher rate of inflation before seeing some reprieve, but hopefully, soon they can expect some relief from these increasing costs.