Inflation began to slow in April in the US, with the price of gasoline falling after rising sharply in March due to the war in Ukraine, but still remains high, which hurts the popularity of President Joe Biden.
According to the Consumer Price Index (CPI) released today by the Ministry of Labor, inflation in April was 8.3%, compared to 8.5% in March. This was the first decline in inflation in eight months.
Despite this decline, price increases remain strong, very close to the highest level of the last 40 years. Food prices recorded the highest increase, on an annual basis, since April 1981 (+ 9.4%). The price of gasoline, which had skyrocketed in March due to the war, fell by 6.1%.
Used car prices, which contributed to higher inflation due to the shortage of semiconductors (chips), fell slightly in April (-0.4%), for the third consecutive month.
President Biden has been trying to convince Americans since the beginning of the week that the White House is doing everything it can to tackle inflation, assuring that fighting it is “the government’s top national priority.” Later today he will visit a family farm in Cancani, Illinois and is expected to talk about what he calls “Putin’s price increase.”
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