U.S. inflation hit 8.3% last month but slows from 40-year high

Associated Press

05/11/2022

Consumers Inflation — A CUSTOMER PUMPS gas at an Exxon gas station, Tuesday in Miami. U.S consumers have so far defied higher prices for gas, food, and rent and have been spending more in 2022, providing crucial support to the economy. How long that can continue will be one of the key factors affecting the economy and inflation this year. / MARTA LAVANDIER / ASSOCIATED PRESS

WASHINGTON (AP) – 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,…