VTI - Investors Relieved As CPI Decelerates For The First Time In 2024

2024-05-15 10:15:47 ET

Summary

• April Headline CPI came in slightly below expectations at 0.3%, while Core CPI was in line with expectations.
• Inflation remains above 3% for the 37th consecutive month, but the rate was slightly cooler than March.
• Retail Sales for April were unchanged compared to March, falling short of expectations, indicating weaker consumer spending.
• Stocks and bonds were bid following the somewhat dovish report, and a July rate cut can't be ruled out.

April Headline CPI verified at 0.3%, slightly below the 0.4% expectation. On a Core basis, the 0.3% print was right in line with what economists were expecting. On the year-over-year view, Headline CPI is now 3.4%, a tenth cooler than what was seen in March and in line with the consensus. The 3.6% year-over-year Core CPI rate, the lowest since April 2021, was very close to market estimates. This marks the 37th consecutive month with inflation above 3%....

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