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US: growth of consumer prices slows down

May 31, 2022 United States

The growth of consumer prices slowed in April inthe US. Notwithstanding, prices are still higher than usual

According to the recent statistics release by the Bureau of Labour Statistics consumer prices increase by 8.3% in April, compared to similar period last year. This variation comes down from the 8.5% growth registered in the previous month (March), the highest inflation rate since the 12-month period ending in December 1981.

Compared to March, prices for April were up 0.3% on top of a 1.2% rise in March.

Excluding food and energy, prices rose by 6.2% from last year. Compared to last year, the energy index rose 30.3% and the food index rose 9.4%, the largest 12-month increase since the period ending April 1981.

Footwear Prices

Footwear prices increased by 4.7% in April compared to 2021, according to the Footwear Distributors and Retailers of America (FDRA): "the slowest growth in the last nine months, trailing behind March’s 6.6% increase and February’s 7% increase". However, prices are still rising at faster rates than usual.

Men’s footwear was up by 2.5%, women’s was up 6.4% and kids’ was up 5.0%.

Image credits: Dan-Cristian on Unsplash

Source: FootwearNews

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