In April, the rate of price rises in the United States slowed marginally as prices for gasoline, used vehicles, and clothes fell. According to the Labor Department, annual inflation was 8.3 percent last month, down from 8.5 percent in March. Although the rate of price rises slowed for the first time in months, it remained at a 40-year high.

        Groceries, housing, and other commodities such as plane tickets have continued to climb in price, placing pressure on politicians to limit the rises. On Wednesday, President Joe Biden noted that price hikes were still "unacceptably high," and that lowering inflation was his "top domestic goal."

        In an effort to address the problem, the US central bank issued its largest interest rate hike in 22 years earlier this month, raising rates by half a percentage point. The US raises interest rates for the first time in 22 years, saying that rising prices are "harder on my money than the epidemic." The US also orders a "unprecedented" release of oil reserves.

        Analysts expected the report to indicate a more significant slowing in price acceleration as the fast price rises of the previous 12 months began to fade. But, according to Andrew Hunter, senior US economist at Capital Economics, "underlying inflation pressures are greater than we had predicted."

        Prices in the United States began to rise in 2021, indicating a significant economic recovery from the pandemic's blow. Low borrowing rates and government investment, such as checks to households to cushion them from the effects of Covid shutdowns, have contributed to boost gasoline consumption.

        At the same time, continued Covid difficulties, labor shortages, and the crisis in Ukraine continue to hamper supply, resulting in a dramatic increase in food and energy costs in March. Last month, the pressures subsided.

        According to the Labor Department's consumer price index, gasoline prices declined 6.1 percent in April following an almost 18 percent increase in March. Grocery prices rose 1% in April, easing from a 1.5 percent increase in March. Clothing prices fell 0.8 percent in April after six consecutive months of growth.

        However, inflation continued to drive up the cost of other goods, eroding consumers' purchasing power as wage increases fell behind. From March to April, airfares increased by 18.6%, the highest one-month increase since records began in 1963.

        New automobile prices increased by 1.1 percent, while housing expenses increased by 0.5 percent. "The reduction in year-over-year inflation to 8.3 percent from 8.5 percent signals a start toward bringing inflation to the Federal Reserve's objective [of 2 percent], but there is still a long way to go," Wells Fargo economist Sarah House said. "Inflation is still prevalent, making its control much more difficult."