IEI - Inflation Continued To Decline In April

2024-06-02 12:17:00 ET

Summary

• Inflation ticked down further in April, according to new data from the Bureau of Economic Analysis.
• Core inflation, which excludes volatile food and energy prices, has also declined.
• FOMC members will almost certainly vote to hold their target rate constant at June’s meeting.

By William J. Luther

Inflation ticked down further in April, according to new data from the Bureau of Economic Analysis (BEA). The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation , grew at a continuously compounding annual rate of 3.1 percent in April, down from 4.1 percent in the prior month. It has grown at an average annual rate of 3.7 percent over the last three months....

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