The Labor Department reported Wednesday the country’s consumer price index for April was 8.3%, compared to a year ago, a slight drop from March’s annualized rate but another indicator that inflation in the U.S. persists. 

The report by the department’s Bureau of Labor Statistics shows that inflation may have eased slightly last month from a 40-year high in March.

The 8.5% year-over-year increase in March was the highest since 1981.

The decline fell short of forecasters’ expectations.

Economists at data provider FactSet surveyed by the Associated Press projected an 8.1% increase, compared to a year earlier.

The Consumer Price Index for All Urban Consumers increased 0.3% in April on a seasonally adjusted basis after rising 1.2% in March, the bureau also reported.

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