The US Federal Reserve makes important statements regarding recent inflation data.
Chicago Federal Reserve Bank President Austan Goolsbee said on Wednesday that data showing moderate inflation in consumer prices during April does not necessarily reflect the impact of rising tariffs on US imports, noting that the Federal Reserve still needs more data to determine the direction of prices and the economy. The US Consumer Price Index (CPI) report for April showed that inflationary pressures eased during the first month that a number of tariffs announced by President Donald Trump took effect, indicating a relative slowdown in the pace of price increases.
Recent data released by the US Bureau of Labor Statistics showed that the Consumer Price Index rose by 2.3% year-on-year in April, down from a 2.4% annual increase in March, and below economists' expectations of a 2.4% annual increase.
On a monthly basis, prices increased by 0.2%, compared to a decline of 0.1% in March, which was a better result than expectations that indicated a monthly increase of 0.3%.
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