Annual inflation continued its slow-but-steady deceleration in April, according to the latest Consumer Price Index released Wednesday.

The CPI climbed by 4.9% for the 12 months ended in April, according to the Bureau of Labor Statistics, representing a slightly slower pace of increase than the 5% in March. It was below economists' expectations for the number to remain unchanged.

It's the 10th consecutive month that the headline CPI rate has slowed.

This story is developing and will be updated.