Inflation moderated for the 10th consecutive month in April. Households will likely see continuing price relief in food, energy and housing, economists said.
"It looks like inflation in the [shelter] category has peaked," Andrew Hunter, senior U.S. economist at Capital Economics, said.
"Gas prices are way down from where they were a year ago." he said. "Food prices are no longer rising quickly. As the pandemic economy reopened, businesses rushed to hire workers and job openings surged to record highs. That demand tilted the job market in favor of workers, who had ample opportunities. They saw wages grow at their fastest pace in decades as employers competed to hire them.
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