Housing costs yet again main driver of US inflation; April CPI up 0.3%

15 May 2024

 

Summary: US CPI up 0.4% in April, less than expected; annual inflation rate slows from 3.5% to 3.4%; “core” rate also up 0.3%, up 3.6% over year; Westpac: housing costs continue as one of main drivers of US inflation; Treasury yields fall significantly; rate-cut expectations firm; prices of non-energy services main driver again. The annual rate of US inflation as measured by changes in the consumer price index (CPI) halved...

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