QQQ - April Inflation: Signs Of Optimism May To August Reports Will Dictate Fed Policy
2024-05-15 14:00:03 ET
Summary
- April inflation grew at 0.3% and 3.4% YoY, with core inflation at 0.3% and 3.6% YoY.
- The next few months of inflation data will be crucial, as low inflation numbers could stall YoY inflationary numbers.
- Durable goods continue to drive disinflation, while housing shows signs of slowing inflation. Service sector inflation remains stubborn.
April Inflation Report
Earlier today, the Bureau of Labor Statistics released the Consumer Price Index (CPI) for the month of April. Last month, inflation grew at 0.3% and 3.4% on a year-over-year basis. Core inflation, which excludes food and energy, rose at 0.3% in April and 3.6% on a year-over-year basis. While investors cheered the news with a rise in equities and a decline in interest rates, the report highlighted some stubborn areas where inflation is still present and the importance of the next few months of data....
April Inflation: Signs Of Optimism, May To August Reports Will Dictate Fed Policy