Reported 4 months ago
The Federal Reserve's preferred measure of underlying US inflation eased in April, and consumer spending unexpectedly declined, supporting potential interest rate cuts. The inflation gauge, core personal consumption expenditures, rose 0.2% with the smallest increase this year, while consumer spending dropped by 0.1%. This data, coupled with slower wage growth, indicates a slow economic start to the year and may influence Fed rate decisions. The report shows signs of cooling household demand, with spending on goods and services softer, prompting attention from policymakers for informed economic decisions amidst uncertain conditions.
Source: YAHOO