Grocery, Airfare Inflation Reached Historic Highs in April; Gas Prices Eased
Americans paid less for gasoline but more for groceries and air travel last month as the broader pace of inflation eased slightly but remained historically high.
A fall in energy costs led the way toward the smaller overall gain, with gasoline prices dropping a seasonally-adjusted 6.1% in April, following a steep advance in crude-oil prices in March after Russia’s invasion of Ukraine. Groceries rose by 1% over March and were up 10.8% over the last 12 months, the largest 12-month increase…