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