Inflation fell to 4.9% in April - the first time it has dipped below 5% since ... trends now Inflation rose by 0.4% between March and April - quadruple the 0.1% increase of the previous month, but annual increase sits at 4.9% - the first time it's slipped under 5% in two years By Melissa Koenig For Dailymail.Com Published: 13:43 BST, 10 May 2023 | Updated: 13:49 BST, 10 May 2023 Viewcomments Inflation grew by 0.4 percent between March and April - four times the 0.1 percent increase seen between February and March. The latest statistic showed that annual inflation has risen by 4.9 percent since April 2022. That is the first time the US has seen a rise of less than five percent in two years, with the annual increase hitting its apparent peak of 9.1 percent in June 2022. While the rise in cost of living appears to be cooling, it still sits far above the desired two percent annual inflation target set by the Fed. And many Americans continue to struggle with price of everyday items that now sit stubbornly higher than they did before the COVID pandemic. Clearance sale signs are displayed at a retail store in Downers Grove, Ill., Wednesday, April 26, 2023. On Wednesday, the Labor Department reports on U.S. consumer prices for April. (AP Photo/Nam Y. Huh) Developing story, check back for updates... Share or comment on this article: All rights reserved for this news site (dailymail) and under his responsibility