Summary:
US inflation eased slightly in April, offering some relief to households. CPI rose 3.4% year-on-year, meeting expectations.
US CPI May
12/6/2023 (Wed)
Previous: 3.4% Forecast: 3.4%
Inflation in the US eased slightly in April, providing at least a bit of relief for household. CPI increased 3.4% from a year previously, in line with expectations.
Again the index for shelter rose in the month, as did the index for gasoline. Combined, these two indexes contributed over 70% of the monthly increase in the index for all items.
Retail sales rose significantly last month, showing strong increases both month-over-month and year-over-year, signalling that consumers continued to spend, according to the National Retail Federation.
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