Inflation maintained the upward trend observed since the end of last year. In April, consumer prices added a seasonally adjusted 0.4% over the previous month, which was in line with market expectations and only a notch below the price hike tallied in March. Owing to the strong monthly reading, annual inflation jumped from 2.7% in March to 3.2% in April, which represents the highest level since October 2008. As in previous months, the price rise reflected soaring energy costs, which increased a seasonally adjusted 2.2% over the previous month on top of an even stronger 3.5% rise in March. In addition, higher food prices also contributed to the robust monthly print. Consequently, the closely watched core inflation index, excluding food and energy, rose a slower 0.2% over the previous month, driving annual core inflation up a notch to 1.3% (March: 1.2% year-on-year). The Fed anticipates PCE inflation (based on the price index for personal consumption expenditures) to average between 2.1% and 2.8% in 2011 and between 1.2% and 2.0% in 2012.
United States Inflation
Headline inflation continues to rise amid higher energy and food prices
May 13, 2011
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United States Economic News
United States: Clinton’s lead over Trump widens but presidential election results are still uncertain
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