Inflation is coming down, but not as fast as the Federal Reserve wants. On May 10 at 8.30am ET, we’ll receive an update on the Consumer Price Index for the month of April.
Nowcasts
Inflation nowcasts from the Cleveland Fed suggest a 0.5% month-on-month increase in core CPI for April, perhaps driven in part by rising energy costs during the month. That would disappoint the Fed, as it would hold annual inflation at over 5%.
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