The Washington PostDemocracy Dies in Darkness
Economy

Inflation eased again in April, but prices are still rising fast

The trend is going in the right direction, but policymakers are worried it’s getting tougher to bring down, threatening workers and families

By
Updated May 10, 2023 at 6:00 p.m. EDT|Published May 10, 2023 at 6:00 a.m. EDT
For the Federal Reserve, the goal is to get borrowing costs high enough that consumers pull back on all kinds of spending and investment. (Gabby Jones/Bloomberg News)
7 min

Inflation has eased to the lowest level in two years, but prices are still higher than normal — underscoring how difficult slowing the economy down has become.

Prices rose 4.9 percent in April compared with the year before, the Bureau of Labor Statistics reported Wednesday morning, and 0.4 percent compared with March. There’s been significant progress on inflation from last summer, when the consumer price index hit 9.1 percent on a year-over-year basis. But even as inflation has eased for 10 straight months, policymakers are still fearful that inflation could become a permanent threat to workers and families who are also facing tighter credit conditions, rising loan payments and uncertainty about a recession.