Key inflation measure eases, suggesting price increases could be slowing

(Image credit: BRENDAN SMIALOWSKI/AFP via Getty Images)

published 27 May 2022

The personal consumption expenditures price index, also known as "the Fed's favorite inflation measure" rose 6.3 percent in April from a year ago, in a sign that inflation might be slightly moderating, CBS and The Associated Press report, per the Commerce Department.

Though still elevated, April's number represents the first slowdown since November 2020, and clocks in just below a four-decade high set in March, CBS and AP write.

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Brigid Kennedy worked at The Week from 2021 to 2023 as a staff writer, junior editor and then story editor, with an interest in U.S. politics, the economy and the music industry.

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