Annual inflation rate hit 2.3% in April
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Core inflation remained more or less unchanged last month, a setback for anyone hoping the Federal Reserve will move quickly to lower interest rates. Cuts are even less likely in the near term because the latest trade negotiations with China should reduce the threat of a U.
Inflation is getting closer to the Federal Reserve's 2% target.
Inflation retreated again in April on the back of lower prices for consumer staples like groceries and gasoline, and other items such as used cars and clothing. The consumer price index, a key inflation gauge, rose 2.3% in April from 12 months earlier, down from 2.4% in March, the Bureau of Labor Statistics reported Tuesday.
Considering Tuesday’s inflation reading from the consumer-price index, or CPI, the Federal Reserve might not cut interest rates at all in 2025, according to Lazard’s Ronald Temple. “April is likely to
Surprising inflation data and weak retail sales spark a sharp crypto selloff, with Bitcoin down over 3% and Coinbase sliding in premarket trading.
Investors were bracing for a clear sign of tariff-related pricing pressure in the April consumer inflation report, but consumer prices remained tame in Tuesdays