Inflation in the USA has fallen to a minimum since April 2021
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The Consumer Price Index (CPI) in the USA decreased by 4.9% year-on-year at the end of April, the US Department of Labor reported.
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The indicator has reached a minimum since April 2021. Core inflation, which excludes food and energy prices (Core CPI index), amounted to 5.5% in April.
Economists polled by Bloomberg predicted that the consumer price index in April would remain at the March level of 5%. Core inflation was expected at the level of 5.5% against 5.6% in March.
Let’s remind
Inflation in the USA will begin to slow down from the summer of 2022. Nevertheless, this year, for several months in a row, core inflation remained in the range from 5.5% to 5.7%, which indicates its stability, despite the most aggressive campaign to tighten monetary policy since the 1980s ( DCP).
Read: US banks, despite the crisis, made a record profit in the 1st quarter
Another important event this week will be the publication of data on the US producer price index on Thursday, May 11. Price pressure is expected to increase in April compared to March.
The next Fed rate meeting will be held on June 13-14. When making a decision, the regulator will need to take into account not only inflation, which still significantly exceeds the target of 2%, but also the recent upheavals in the banking sector that occurred, including due to the sharp increase in interest rates.
Source: Ministry of Finance
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