US inflation in line with forecasts (+3.4%)

The data

In April, consumer prices grew by 0.4% on a monthly basis and by 3.4% on an annual basis, slightly less than the +3.5% recorded in March

by Editorial Staff
May 15, 2024 3:08 pm

The expected US inflation data for April met analysts’ forecasts. According to the Department of Labor, prices rose by 0.4% compared to March and 3.5% on an annual basis. In both cases these are data in line with forecasts, which therefore certify a slight decline in annual inflation growth compared to March, when it rose by 3.5%. The European stock markets, after a small slowdown, have resumed the pace of the morning and are moving moderately upwards.

CORE DATA IN LINE WITH EXPECTATIONS

Returning to US inflation, the “core” figure, i.e. the one stripped of the price component of food and energy goods, grew by 0.3%, in line with expectations, after three consecutive increases of 0.4%. If compared to a year earlier, the “core” data recorded an increase of 3.6%, again in line with expectations, the smallest increase since April 2021. Energy prices increased by 2.6% compared to the previous year, those of food products were up 2.2%. US Treasury bond prices moved higher. The inflation data is fundamental in view of the next decisions of the Federal Reserve on interest rates.

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