Inflation in the US slowed to 4.9% for the first time in two years after the Central Bank sharply raised interest rates.
Annual inflation in the US slowed to 4.9% in April against 5% in March. This is the tenth consecutive month that price growth has slowed. This was reported by the BBC, citing official data from the US Department of Labor.
The fall came after the US Central Bank sharply raised interest rates in an attempt to control inflation. US inflation rose in June to 9.1%, the highest since 1981.
Housing, gas and used car prices jumped from March to April. In addition, the cost of haircuts, vet visits and gardening services have increased.
Since March last year, the US Federal Reserve (Fed) has raised interest rates 10 times, bringing them to the highest level since 2007.
Fed chief Jerome Powell signaled this month that officials believe they have done enough to control inflation and may be willing to halt their rate hike program.
Source: korrespondent
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