US inflation accelerates in April to 3.8%, the highest level in three years, according to a Commerce Department report cited across outlets. The year-on-year figure rises from 3.5% in March and is the highest since May 2023. On a monthly basis, prices increase by 0.4% in April, slowing from a 0.7% rise in March. Multiple sources link the renewed pressure on household budgets to higher costs for essentials, including gasoline and food, with gas prices highlighted as a key driver. One report also notes that inflation broadens beyond volatile energy and food items, suggesting the price pressures are not confined to a single category. Separately, outlets say the reading runs above the Federal Reserve’s 2% target, shaping expectations for monetary policy. Federal Reserve officials discussed whether they may avoid rate cuts this year, with some signaling that the next move could be a rate hike instead. Overall, the data is described as weakening Americans’ income and spending power as prices continue to rise for a range of goods.
US inflation rises to 3.8% in April, squeezing Americans’ spending power
US inflation accelerates in April to 3.8%, the highest level in three years, according to a Commerce Department report cited across outlets. The year-on-year figure rises from 3.5% in March and is the...
- US inflation rises to 3.8% in April versus 3.5% in March, the highest since May 2023.
- On a monthly basis, prices rise 0.4% in April, down from a 0.7% increase in March.
- Gasoline and food costs are highlighted as major contributors to higher prices.
- Inflation remains above the Federal Reserve’s 2% target.
- Some Federal Reserve officials suggest rate cuts may be delayed, and the next move could potentially be a hike rather than a cut.
In April, inflation rose to 3.8%, the highest in three years, impacting American finances. Prices for essentials like groceries and electricity are increasing, prompting concerns among Federal Reserve officials about potential rate hikes instead of cuts as consumer incomes decline.
2 months agoA key inflation gauge accelerated in April to the highest level in three years, the latest sign that spiking gas prices and higher food costs are squeezing Americans' finances. Inflation jumped to 3.8% in April compared with a year ago, the Commerce Department said Thursday, up from 3.5% in March and the highest since May 2023. On a monthly basis, prices rose 0.4%, down from the 0.7% jump in March. The report showed that prices have risen for many items in addition to gas, indicating that inflation could persist and pose problems for congressional Republicans in this year's midterm elections. Inflation is also notably above the Federal Reserve's target of 2%, which means Fed policymakers may decide to forego any cuts to their key short-term interest rate this year. Some officials have signalled that their next move could be a hike rather than a cut. Excluding the volatile food and energy categories, core inflation rose to 3.3% in April from 3.2% the previous month. It is the highes
2 months agoA key inflation gauge accelerated in April to the highest level in three years, the latest sign that spiking gas prices and higher food costs are squeezing Americans’ finances. Inflation jumped to 3.8 per cent in April compared with a year ago, the Commerce Department said on Thursday, up from 3.5 per cent in March and the highest since May 2023. On a monthly basis, prices rose 0.4 per cent, down from the 0.7 per cent jump in March. The report showed that prices have risen for many items in...
2 months agoA key inflation gauge accelerated in April to the highest level in three years, the latest sign that spiking gas prices and higher food costs are squeezing Americans’ finances
2 months agoA key inflation gauge accelerated in April to the highest level in three years, the latest sign that spiking gas prices and higher food costs are squeezing Americans’ finances
2 months ago
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