The Consumer Price Index increased 8.3% in the year ending in April, according to the Bureau of Labor Statistics,

somewhat higher than economists had projected.

It was down from the 8.5 percent recorded in March, which was the highest level in almost 40 years.

Economists, the Federal Reserve, the White House, and the American people all hoped for this outcome.

However, there are a number of variables that will keep costs high this summer.

What has become more costly? Housing, food, plane tickets, and new cars

Housing, food, plane tickets, and new cars all saw significant price rises in April

Food costs increased by 0.9 percent last month and by 9.4% year on year.

Energy prices, on the other hand, decreased in April as gasoline prices declined from their March highs.

Energy prices increased by 30.3 percent in the last year. In May,

For the third month in a row, housing prices increased by 0.5 percent,

including rents and owners' equivalent rent for persons who own their homes.