US inflation: CPI eases to 4.9% – slowest annual increase in 2 years | Personal Finance | Finance

The Consumer Price Index (CPI) rate of inflation for the 12 months to April 2023 rose by 4.9 percent.

This is less than predictions coming up to today’s announcement and a drop from the five percent for March 2023.

In response to this easing in inflation, stock futures tied to the Dow Jones gained 63 points or 0.2 percent.‌

Futures linked to S&P 500 and Nasdaq-100 each rose by over 0.3 percent after April’s inflation rate was confirmed.

Economists polled by Dow Jones had expected a five percent year-on-year increase for April of this year