Inflation rate eases to 4.9% in April, less than expectations

A widely followed measure of inflation rose in April, though the pace of the annual increase provided some hope that the cost of living will head lower later this year.

The consumer price index, which measures the cost of a broad swath of goods and services, increased 0.4% for the month, in line with the Dow Jones estimate, according to

However, that equated to an annual increase of 4.9%, slightly less than…