ACTV - April CPI Report: Finally Some Good Inflation News

2024-05-15 22:25:00 ET

Summary

• The April CPI reading delivered the first (slight) downside inflation surprise since the turn of the year, easing niggling concerns that inflation was starting to trend upwards again.
• Headline CPI slowed to 0.3% month-on-month, slightly weaker than the 0.4% consensus expectation, marking the first cooling in six months.
• From a Fed perspective, while today’s inflation report is not sufficiently soft to put a July policy rate cut on the table, it does raise the odds of a September cut.

By Seema Shah, Chief Global Strategist

The April CPI reading delivered the first (slight) downside inflation surprise since the turn of the year, easing niggling concerns that inflation was starting to trend upwards again....

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