US consumer inflation eased slightly last month, according to government data published Wednesday, in a positive sign for President Joe Biden ahead of November's election.

US flag file 05162024

Agence France-Presse

WASHINGTON -- US consumer inflation eased slightly last month, according to government data published Wednesday, in a positive sign for President Joe Biden ahead of November&#39;s election.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The data supports his administration&#39;s messaging that the US economy has turned a corner, as it looks to quell consumers&#39; concerns about the impact of rising prices going into an expected rematch against former president Donald Trump.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">US stock markets set new records in New York following the publication of the inflation data, as hopes rose that the Federal Reserve would start cutting interest rates in the coming months.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The annual consumer price index (CPI) came in at 3.4 percent in April, down 0.1 percentage point from March, the Labor Department said in a statement.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">This was in line with the median forecast of economists surveyed by Dow Jones Newswires and the Wall Street Journal.<p id="isPasted" style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Monthly inflation came in at 0.3 percent, slightly below expectations.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&quot;I know many families are struggling, and that even though we&#39;ve made progress we have a lot more to do,&quot; Biden said in a statement, adding: &quot;Prices are still too high.&quot;<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">But Trump, his likely Republican opponent, said in a statement that American workers and families were &quot;literally paying the price for Joe Biden&#39;s failed economic policies, with prices on household essentials like gas, food, rent and diapers skyrocketing.&quot;<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&quot;The American people cannot afford four more years of Bidenomics,&quot; he added.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Core CPI slows further<p id="isPasted" style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The April CPI data marks the first month of slowing annual data since January, although both the annual and monthly figures remain too high for policymakers&#39; liking.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&quot;The index for shelter rose in April, as did the index for gasoline,&quot; the Labor Department said in a statement.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&quot;Combined, these two indexes contributed over seventy percent of the monthly increase in the index for all items,&quot; it added.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The gasoline index jumped by 2.8 percent from a month earlier, while shelter prices increased by 0.4 percent.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&quot;This is a welcome moderation in consumer prices in April &ndash;- especially after the elevated reading that we&#39;ve had in the first quarter,&quot; Nationwide Chief Economist Kathy Bostjancic told AFP.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">She added that the data &quot;keeps alive the prospect&quot; of a first Federal Reserve interest rate cut in September.<p id="isPasted" style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">In more good news for US consumers, a widely-watched inflation measure that excludes volatile food and energy prices also eased last month, rising at an annual rate of 3.6 percent, down from 3.8 percent in March.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">This marked its lowest annual rate since April 2021, according to Labor Department data, and suggests the overall inflationary picture is moving firmly in the right direction.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The so-called &quot;core&quot; inflation index rose 0.3 percent in April from a month earlier, according to the Labor Department, also slightly lower than in March.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Good for the Fed<p id="isPasted" style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The April CPI data provides the US Fed with some welcome economic news as it mulls when to start lowering interest rates from their current 23-year high.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The US central bank has been locked in a battle against rising prices, hiking rates and holding them in a bid to bring inflation back down firmly to its long-term target of two percent.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&quot;We think the data support the case for a patient approach on policy decisions from the Fed going forward although the base case remains one of lower rates this year,&quot; High Frequency Economics chief US economist Rubeela Farooqi wrote in a note to clients.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Bostjancic from Nationwide called the April CPI data &quot;encouraging,&quot; but said the Fed would likely want to see more evidence that inflation was moving down towards target before they start cutting rates.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Nationwide expects the US central bank to make two interest rate cuts this year, with the first coming in September, she added.<p id="isPasted" style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">This is one less than Fed policymakers penciled in back in March, when they predicted three quarter-percentage-point cuts this year.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Futures traders have raised their expectations of a September rate cut in recent days, and now put the chances of a cut by mid-September at just over 70 percent, according to data from CME Group.RELATED STORY: <iframe width="640" height="360" src="https://www.youtube.com/embed/11lydILOH7k?&wmode=opaque&rel=0" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe> <p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">

<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">This was in line with the median forecast of economists surveyed by Dow Jones Newswires and the Wall Street Journal.<p id="isPasted" style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Monthly inflation came in at 0.3 percent, slightly below expectations.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&quot;I know many families are struggling, and that even though we&#39;ve made progress we have a lot more to do,&quot; Biden said in a statement, adding: &quot;Prices are still too high.&quot;<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">But Trump, his likely Republican opponent, said in a statement that American workers and families were &quot;literally paying the price for Joe Biden&#39;s failed economic policies, with prices on household essentials like gas, food, rent and diapers skyrocketing.&quot;<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&quot;The American people cannot afford four more years of Bidenomics,&quot; he added.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Core CPI slows further<p id="isPasted" style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The April CPI data marks the first month of slowing annual data since January, although both the annual and monthly figures remain too high for policymakers&#39; liking.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&quot;The index for shelter rose in April, as did the index for gasoline,&quot; the Labor Department said in a statement.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&quot;Combined, these two indexes contributed over seventy percent of the monthly increase in the index for all items,&quot; it added.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The gasoline index jumped by 2.8 percent from a month earlier, while shelter prices increased by 0.4 percent.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&quot;This is a welcome moderation in consumer prices in April &ndash;- especially after the elevated reading that we&#39;ve had in the first quarter,&quot; Nationwide Chief Economist Kathy Bostjancic told AFP.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">She added that the data &quot;keeps alive the prospect&quot; of a first Federal Reserve interest rate cut in September.<p id="isPasted" style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">In more good news for US consumers, a widely-watched inflation measure that excludes volatile food and energy prices also eased last month, rising at an annual rate of 3.6 percent, down from 3.8 percent in March.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">This marked its lowest annual rate since April 2021, according to Labor Department data, and suggests the overall inflationary picture is moving firmly in the right direction.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The so-called &quot;core&quot; inflation index rose 0.3 percent in April from a month earlier, according to the Labor Department, also slightly lower than in March.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Good for the Fed<p id="isPasted" style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The April CPI data provides the US Fed with some welcome economic news as it mulls when to start lowering interest rates from their current 23-year high.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The US central bank has been locked in a battle against rising prices, hiking rates and holding them in a bid to bring inflation back down firmly to its long-term target of two percent.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&quot;We think the data support the case for a patient approach on policy decisions from the Fed going forward although the base case remains one of lower rates this year,&quot; High Frequency Economics chief US economist Rubeela Farooqi wrote in a note to clients.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Bostjancic from Nationwide called the April CPI data &quot;encouraging,&quot; but said the Fed would likely want to see more evidence that inflation was moving down towards target before they start cutting rates.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Nationwide expects the US central bank to make two interest rate cuts this year, with the first coming in September, she added.<p id="isPasted" style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">This is one less than Fed policymakers penciled in back in March, when they predicted three quarter-percentage-point cuts this year.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Futures traders have raised their expectations of a September rate cut in recent days, and now put the chances of a cut by mid-September at just over 70 percent, according to data from CME Group.RELATED STORY: <iframe width="640" height="360" src="https://www.youtube.com/embed/11lydILOH7k?&wmode=opaque&rel=0" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe> <p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">

<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">US stock markets set new records in New York following the publication of the inflation data, as hopes rose that the Federal Reserve would start cutting interest rates in the coming months.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The annual consumer price index (CPI) came in at 3.4 percent in April, down 0.1 percentage point from March, the Labor Department said in a statement.

WASHINGTON -- US consumer inflation eased slightly last month, according to government data published Wednesday, in a positive sign for President Joe Biden ahead of November&#39;s election.<p style="margin: 1em 0px; padding: 0px; border: 0px; -webkit- text-size-adjust: 100%; box-sizing: border-box; line-height: 1.3; letter-spacing: normal; color: rgb(0, 0, 0); orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The data supports his administration&#39;s messaging that the US economy has turned a corner, as it looks to quell consumers&#39; concerns about the impact of rising prices going into an expected rematch against former president Donald Trump.

US consumer inflation eased slightly last month, according to government data published Wednesday, in a positive sign for President Joe Biden ahead of November's election.

US consumer inflation eases slightly in April, sending stocks higher | ABS-CBN News

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US consumer inflation eases slightly in April, sending stocks higher

US consumer inflation eases slightly in April, sending stocks higher