US consumer price index up 4.9% in April, marking slowdown for 10th month

The US Labor Department says the consumer price index in April rose 4.9 percent from a year earlier.

The pace is a bit below 5.0 percent shown in March, marking a slowdown for the 10th consecutive month.

It has dropped to the 4 percent level for the first time in two years.

The US economy has begun showing a slowdown in inflation after the Federal Reserve started to raise interest rates sharply since March last year.