CPI: Inflation rose 0.2% in Apr., 2.3% on year
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Investor's Business Daily on MSNCPI Inflation Dips, But These Prices Jumped On Trump Tariffs; S&P 500 Rises (Live Coverage)T oday's consumer price index data for April came in below estimates, even as Trump tariffs ramped up. The inflation pictures is a bit less crucial for markets than it would have
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.
U.S. inflation rose 2.3% annually in April, with shelter costs up and key goods like used cars and apparel posting monthly price declines.
"There isn't a lot of evidence of tariffs boosting the CPI in April, but this shouldn't be surprising as it takes time," Oxford Economics chief US economist Ryan Sweet wrote in a note to clients.