Annual US inflation accelerated to 3.8% in April, surpassing expectations and signaling persistent price pressures.
US consumer prices increased 3.8% year-over-year in April, up from March and above the 3.7% consensus forecast. The data, released by the Bureau of Labor Statistics, highlights ongoing inflationary trends despite previous cooling efforts.
Analysts had anticipated a slight deceleration from March’s 3.5% reading, but April’s figures reversed that expectation. Core CPI, excluding food and energy, also ticked higher, reinforcing concerns about sticky inflation.
Markets are closely watching the Federal Reserve’s response, with rate cut expectations potentially pushed further into 2024.