Will inflation have eased up in April?

As one example, the red-hot housing market may be starting to soften in some areas, as mortgage rates rise to their highest levels in over a decade.Fed hikes rates by half a percentage point in fight against inflationBut no matter the inflation figure, economic officials agree that it will take months of data to assess which way prices are heading. Higher lending costs tend to cool the economy by weighing on business and consumer spending, and eventually lead to lower prices overall.Mortgage rates are rising, but the hot housing market is slow to coolThe Fed has launched an ambitious plan to slash inflation with seven interest-rate increases this year. Gas prices, rent costs and grocery bills are some of the most tangible ways people feel the economy, and for many Americans, it’s the first time they’re experiencing inflation in their daily lives.“It’s our job to make sure that inflation of that unpleasant high nature doesn’t get entrenched in the economy,” Powell said last week.