Price pressures persist as April CPI reading comes in at 4.9%
The US consumer inflation rate in April was 4.9%, well above pre-pandemic levels. (Photo: AFP)
WASHINGTON: Consumer inflation in the United States nudged down only slightly in April, the Labor Department said on Wednesday, despite strong efforts to cool the economy and rein in price increases.
The latest number signals that price pressures remain, although it marks a step in the right direction and the smallest annual rise in two years.
The rate remains well above pre-pandemic levels, and analysts are closely eyeing inflation numbers as the Federal Reserve mulls the need for further interest rate hikes and how long to keep policy…
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
