Business

America’s annual inflation rate dipped again in April, to 4.9%. The core inflation rate, which excludes energy and food prices, also fell slightly, to 5.5%. The core rate has been higher than the overall rate for two months now. The Federal Reserve’s interest-rate increases have helped consumer-price growth to slow since its peak in June. Markets are betting that the Fed will soon pause the run of rate rises, though the labour market is still running hot. Employers created 253,000 jobs last month, well above estimates.