“US Inflation Rate Steadily Slowing, According to Latest Labor Department Data”

Inflation data in the US shows that inflation is steadily slowing.

The US Department of Labor announced on the 10th local time that the consumer price index rose 4.9% in April from the same month last year.

The Ministry of Labor said it was the smallest rise since April 2021.

The year-on-year increase in the consumer price index exceeded 9% in June of last year, and has continued to slow for 10 months in a row.

It is analyzed that the steady slowdown in the US inflation rate is due to the effect of the US Federal Reserve’s 10th consecutive rate hike.

Although the inflation rate has gone down, some point out that it is too early to be relieved considering that it is still well over twice the Fed’s target of 2%.