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US inflation dips from 4-decade high but still causing pain

After months of relentless increases, inflation eased ever-so-slightly in April. However, despite the slight ease, it still remains near a 40-year high, making it hard for millions of Americans to keep up with the ever-growing prices.

According to WFLX, consumer prices jumped 8.3% last month from a year ago. That number was below the 8.5& year-over-year surge in March, which, according to WFLX, was the highest since 1981.

However, despite the lowering, food and energy prices continue to rise, as well as airline tickets, hotel rooms, and new cars. Another category that continues to rise is the price of apartment rental costs.

Those price jumps “make clear that there is still a long way to go before inflation returns to more acceptable levels,” said Eric Winograd, U.S. economist at asset manager AB, told WFLX.

In April, a fallback in gas prices helped slow the overall inflation, with national averages falling to as low as $4.10 a gallon, according to AAA. However, gas prices have surged yet again to a record $4.40.

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