Reported 6 months ago
US inflation remained steady in April with consumer spending showing signs of weakness, presenting a mixed picture for the Federal Reserve's interest rate cut plans. While the data indicates that price increases may persist longer than anticipated, the possibility of subdued consumer spending limiting future price hikes is also suggested. The Personal Consumption Expenditures (PCE) price index rose 0.3% in April, matching March's level, with a year-on-year increase of 2.7%. The report also highlighted a slowdown in consumer spending to a 0.2% rise in April after a 0.7% increase in March, influencing market reactions and expectations for the Fed's rate adjustments later in the year.
Source: YAHOO