Measure of inflation rises at lowest annual pace since April 2021 (CNBC)

The Consumer Price Index, a widely followed measure of inflation, rose in April at its lowest annual pace since April 2021 with an increase of 4.9%, CNBC reported. On a month-over-month basis, the increase was 0.4%, in-line with the Dow Jones estimate. “Today’s report suggests that the Fed’s campaign to quell inflation is working, albeit more slowly than they would like. But for financial markets, today’s inflation print is a net positive,” Quincy Krosby, chief global strategist at LPL Financial, told CNBC.