--- title: Inflation Falls for 10th Consecutive Month. Here's What's Getting Cheaper description: Overall inflation is slowly dropping, and prices are falling for some major expenses like groceries, health insurance, hotels and airfare. authors: - name: Adam Hardy role: Lead Data Reporter url: https://money.com/author/adam-hardy/ bio: Adam Hardy is a lead data journalist at Money, where he frequently reports on financial barriers that affect low-income Americans. Adam’s work has also appeared in Business Insider, Forbes, Nasdaq, The Penny Hoarder, Yahoo! Finance and more than a dozen local and regional newspapers. education: University of South Florida, BA, Magazine Journalism at_money_since: 2021 articles: 501 covers: - Economy and Politics - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - The Penny Hoarder - Forbes Advisor - Creative Loafing - The New York Times - The Washington Post - Bloomberg - Harvard Law School - The Federal Register - National Consumer Law Center - CBS News - Becker's Hospital Review - Business Insider - Mother Jones - The Week - Fortune - The Philadelphia Inquirer - National Association of Student Financial Aid Administrators (NAFSAA) - Education Advisory Board (EAB) - The Institute for College Access & Success (TICAS) - This Morning with Gordon Deal - Empower - Reddit social: - https://www.x.com/hardyjournalism - https://www.linkedin.com/in/hardyjournalism/ editors: - name: Julia Glum role: Managing Editor url: https://money.com/author/julia-glum/ bio: Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money. education: University of Florida at_money_since: 2018 articles: 453 covers: - Economy and Politics - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - Newsweek - International Business Times - CBS News - Good Morning America - WUSA9 - Pix 11 - The New York Times - Mashable - The Washington Post - CNBC - Politico social: - https://x.com/superjulia - https://www.linkedin.com/in/julia-glum published: '2023-05-10T19:27:09.000Z' modified: '2024-01-10T12:57:32.000Z' section: Economy and Politics tags: - inflation - News word_count: 488 canonical: https://money.com/inflation-rate-falls-whats-cheaper/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Full shopping cart in supermarket aisle](https://img.money.com/2023/05/News-Things-Cheaper-Inflation-Abates.jpg?crop=0px%2C194px%2C2880px%2C1620px&quality=85) The headline inflation rate has fallen for 10 months straight. Consumer prices remain stubbornly high in certain areas while falling sharply in others. From March to April, overall prices jumped 0.4%, according to new inflation data released by the Labor Department Wednesday. For the year ending in April, the inflation rate was 4.9% — slightly below economists' predictions of 5%. Despite a steady decline in the annual inflation rate since the [peak of 9.1% in June 2022](https://money.com/inflation-june-2022-cheaper-prices/), inflation lingers well above the 2% rate that the Federal Reserve prefers to see over the long run. “There’s evidence here that things are improving — but improving slowly,” Wendy Edelberg, an economics fellow and director of the Hamilton Project, said Wednesday during a virtual panel held by the Brookings Institution. So-called “core inflation,” which strips out volatile food and energy prices, posted a 5.5% annual increase in April and a 0.4% monthly increase from March. When [weighing interest rate hikes](https://money.com/fed-raises-rates-last-time/), the Fed watches this specific measure of inflation closely. In its report, the Labor Department said that the [rising cost of housing](https://money.com/millennials-rent-forever-never-own-home/) — which jumped 8.1% annually and 0.4% monthly — was the single largest factor keeping inflation high, accounting for over 60% of the core inflation rate. Doggedly bloated [used car prices](https://money.com/used-cars-prices-more-than-new/) are another big contributor. Big picture: Inflation is affected by three main components, as Jason Furman, economics professor at Harvard University, explained during the Brookings panel. Those are supply, the labor market and [price expectations](https://money.com/corporate-monopolies-make-inflation-worse/). While earlier in the pandemic, [supply-chain snarls](https://money.com/new-shortages-popcorn-pet-food-sriracha/) were a major contributor to soaring prices, Furman says that’s now a “non-issue.” The [labor market remains tight](https://money.com/salary-required-to-start-new-job/) — but that it’s about as tight as 2019. So what’s going on? “At this point, the main source of inflation is that it’s just become self-perpetuating,” Furman said. “\[Businesses\] think everyone is going to raise their prices, so \[they\] do.” ## Where prices are falling April’s inflation report is a mixed bag. On the whole, prices have gone up from the previous month. But there are a few key areas where consumers are getting some relief. - **[Piped gas utilities](https://money.com/save-on-utility-bills/):** Prices plummeted 4.9% from March and dropped 2.1% from last April. - **[Health insurance](https://money.com/cut-costs-aca-health-care-plans/):** Prices plunged 3.8% monthly and 15.8% annually. - **[Major appliances](https://money.com/tag/home-appliances/):** Prices for appliances like refrigerators and dishwashers shrank 3.4% monthly and 10.4% annually. - **[Hotels and motels](https://money.com/best-hotels/):** Prices sank 3.4% last month but are up 3.5% from last April. - **[Car and truck rentals](https://money.com/best-car-rental-deals/):** Prices dropped 3.2% monthly and 11.2% annually. - **[Airfare](https://money.com/flight-prices-europe-summer-2023/):** Prices declined 2.6% monthly and 0.9% annually. - **[Groceries](https://money.com/saving-money-on-groceries-strategies/):** While annual grocery prices are up 7.7%, they fell 0.2% monthly from March — with milk prices in particular dropping 2%. [The Average New Car Is Finally Selling Below Sticker Price](https://money.com/average-new-car-price-below-msrp/) [Stock Up on Free COVID-19 Tests Now — Insurance Coverage Is Ending This Week](https://money.com/free-covid-19-tests-ending/) [This Map Shows Which States Still Charge Sales Tax on Groceries, Diapers and Period Products](https://money.com/states-sales-tax-groceries-diapers-period-products/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/inflation-rate-falls-whats-cheaper/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Economy and Politics", "item": "https://money.com/economy-and-politics/" }, { "@type": "ListItem", "position": 3, "name": "Inflation", "item": "https://money.com/inflation/" }, { "@type": "ListItem", "position": 4, "name": "Inflation Falls for 10th Consecutive Month. 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