WASHINGTON — Inflation slowed in April after seven months of relentless gains, a tentative sign that price increases may be peaking while still imposing a financial strain on American households.
Consumer prices jumped 8.3% last month from 12 months earlier, the Labor Department said Wednesday. That was below the 8.5% year-over-year surge in March, which was the highest rate since 1981. On a month-to-month basis, prices rose 0.3% from March to April, a still-elevated rate but the smallest increase in eight months.
