CPI Report shows Inflation is slowing down

(Washington, DC) -- Inflation in the U.S. is slowing down.

The latest Consumer Price Index report from the Labor Department shows inflation slowed to five percent in March, amid drops in both gasoline and grocery prices. That's down from six-percent the previous month.

Consumer prices, meanwhile, increased five percent from a year ago. That's the smallest annual gain since May of 2021.

On a monthly basis, those prices edged up just zero-point-one percent last month versus the expected zero-point-two percent predicted.