The Consumer Price Index rose 0.3% in April, slightly below economists' expectations. Inflation was 3.4% annually in April, in line with forecasts. Core inflation, which excludes volatile food and energy prices, rose 0.3% month-over-month and 3.6% year-over-year in April. Shelter costs increased 0.4% in April and were up 5.5% from a year ago. Energy prices rose 1.1% in April and were up 2.6% annually, while food prices were flat monthly. Used and new vehicle prices declined in April. Inflation remains above the Fed's 2% target, but signs of easing could allow them to pause rate hikes until more data is available in 2024.
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00:00 It's Benzinga and here's what's on the block.
00:02 The consumer price index rose 0.3% in April, slightly below economists' expectations.
00:08 Inflation was 3.4% on an annual basis in April, in line with forecasts.
00:13 Core inflation, which excludes volatile food and energy prices, rose 0.3% month over month
00:18 and 3.6% year over year in April.
00:21 Shelter costs increased 0.4% in April and were up 5.5% from a year ago.
00:26 Energy prices rose 1.1% in April and were up 2.6% annually, while food prices were
00:31 flat on the month.
00:33 Used and new vehicle prices declined in April.
00:36 Inflation remains above the Fed's 2% target, but signs of easing could allow them to pause
00:41 rate hikes until more data is available later in 2024.
00:45 For all things money, visit Benzinga.com.
00:47 [BLANK_AUDIO]