The CPI inflation for April in the US DECREASED to 2.3%, lower than the forecast of 2.4% and also the lowest increase since February 2021.

Core inflation (Core CPI) REMAINED at 2.8%, in line with market expectations.

In April, the prices of goods remained unchanged, and if we exclude food & energy, the increase was only 0.1% - indicating that the direct impact of taxes on the current consumer price level is still quite modest.

The reason may be that retailers are still selling off previous inventories (purchased before the tax took effect), temporarily reducing cost pressure on consumers.

This month's CPI is also the first inflation data set reflecting the impact of the 'reciprocal' tax levels that took effect on April 2.