Inflation rose 0.3% in April and 8.3% year-over-year, according to April Consumer Price Index data from the Bureau of Labor Statistics released Wednesday, May 11.
The most recent numbers represent a modest reprieve from March’s staggering 1.2% month-over-month increase.
Despite the overall pace of headline inflation easing, the cost of groceries alone increased 10.8% since April 2021—the largest annual increase in 42 years.
This increase was driven largely by a rise in prices of meat, poultry, fish, and eggs—up 14.3% year-over-year and the largest 12-month increase since 1979.
Looking more recently, April marked a 1% month-over-month increase in food at home prices.
While this is down from the 1.5% gains recorded in March, it is still the 17th consecutive month the food costs, on the whole, have risen.