U.S. consumer prices rebound 0.2 pct in April on jump in gasoline

U.S. consumer prices rebound 0.2 pct in April on jump in gasoline

US shopper costs rose a modest 0.2 % in April, lifted by increased gasoline prices, an indication that inflation pressures stay muted. Because of the rise in oil prices, which broke $70 a barrel last week, consumers are paying significantly more for fuel than at this time previous year. This was a decline from the 0.2 percent core CPI rose in March and February. Those numbers indicate moderate inflation, but the 12-month increase of 2.5% indicates steadily climbing inflation.

The British pound fell 0.2 percent to $1.3523.

For the month, gasoline prices rose 3.0% and are up 13.4% over the previous year. Economists were expecting to see a 0.2% rise in price pressures.

In April, the price of services ticked up 0.1 per cent. Prices for used cars and trucks tumbled 1.6 per cent in April, the largest drop since March 2009.

Benchmark 10-year U.S. Treasury notes rose 8/32 in price to push yields down to 2.964 percent after breaching 3 percent on Wednesday.

US consumer prices increased modestly in April, pointing to a steady buildup of inflation that will likely keep the Federal Reserve on a path of gradual monetary policy tightening.

For consumers, gasoline was one of the most expensive items in April.

Russian oligarch questioned over Trump lawyer payments
The firm is a DE business started by Cohen, and it's been previously identified as the source of the hush payment to Clifford. AT&T, based in Dallas, made four payments of $50,000 apiece around the end of a year ago , according to Avenatti.

What this means for TIPS and I Bonds. The central bank left interest rates unchanged last week.

USA consumer prices rose by less than forecast in April as costs for automobiles and airfares declined, reducing chances that inflation will run significantly above the Federal Reserve's target in coming months. Here are the new June inflation indexes for all TIPS. Food prices fell 1.1%.

Royce Mendes, senior economist at CIBC World Markets said that he expects the latest inflation data to weigh on a surging USA dollar, which should provide some near-term support for gold.

What this means for future interest rates. They said this moderation will allow the Federal Reserve to maintain its slow, gradual pace of raising interest rates.

"With inflation rising slowly, unemployment still falling at a healthy rate, and the Fed unlikely to hit the breaks from inflation fears, the economy still has plenty of room to run", Frick told ConsumerAffairs. Gasoline prices led the increase, growing 3.0%.

Fed policy makers are monitoring the inflation picture closely, looking for signs that a tightening labor market and continued economic growth are generating stronger wage and price increases after years of weak inflation.

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