US Consumer Prices Rose 0.2% in April

11 May, 2018, 00:35 | Author: Terri Saunders
  • US Producer Prices Edge up 0.1% April

The consumer-price index advanced 0.2% from the prior month after a March decline of 0.1%, a Labor Department report showed May 10, compared with the Bloomberg News survey median of a 0.3% gain. The so-called core CPI rose 2.1% year-on-year in April, matching March's increase. For April, the BLS set the CPI-U index at 250.546, an increase of 0.4% over the March number.

A more closely followed measure that strips out food and energy, known as the core CPI, rose a smaller 0.1% last month.

Economists polled by Reuters had forecast the PPI gaining 0.2 per cent last month and rising 2.8 per cent from a year ago. The CPI had slipped 0.1 percent in March.

Food prices also rose, as did medical services, but cell phone services - which had been blamed for the bafflingly low inflation previous year - were flat after finally rising in March.

The MSCI Asia Pacific Index jumped 0.7 percent to the highest in three weeks.

Economists expect the core personal consumption expenditure (PCE) price index, which had increased 1.6% in February, to breach its target in May. The news provided reason to be bullish as concern mounted about tension between Israel and Iran just days after U.S. President Donald Trump ditched a nuclear accord with the Islamic Republic. Transportation and warehousing costs were up 0.6% on the month.

Goalie Makes 94 Saves In Longest Game in AHL History
Alex Krushelnski's goal at 6:48 of the fifth overtime gave the Phantoms a 2-1 victory after six hours and six minutes. EDT Wednesday night and ended at 1:09 a.m. after more than seven periods and 146 minutes and 48 seconds of play.


The Japanese yen advanced 0.3 percent to 109.41 per dollar.

US PRODUCER prices barely rose in April after strong gains in the first quarter, held down by a moderation in the cost of both goods and services, which could ease fears that inflation pressures were rapidly building up.

The labour market is considered to be near or at full employment, leading to a slowdown in job growth as employers struggle to find skilled workers.

Petrol prices rebounded 3% in April after tumbling 4.9% in March.

Competition for workers is expected to push up wage increases, which have remained moderate. The dollar fell after the report suggested inflation isn't flaring up in a way that would be troublesome for policymakers, despite higher freight costs, a 17-year low in the unemployment rate and tariffs that are burdening businesses.

The Labor Division stated Thursday that the patron worth index elevated 2.5 % in April from a yr earlier, the largest annual acquire in 14 months. The jobless rate is within striking distance of the Fed's forecast of 3.8 per cent by the end of this year.

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