Loading ...CPI–report==no sweat! the BUCK is up.331 and G&S are nicely down-Fed says it’s temporary–BOOYAH!
KEY POINTS
- The Consumer Price Index rise for April from a year earlier was the sharpest since September 2008.
- Economists surveyed by Dow Jones had been looking for an increase of 3.6%.
- One big reason for the acceleration was base effects – at this time a year ago, the economy was hit with the worst of the Covid pandemic and inflation was unusually low.
- Federal Reserve officials see the current rise as temporary and not likely to influence policy.