Prices in US Outstrip Forecasts in Sign of Inflation Persisting
“US consumer prices rose by more than forecast in April, indicating inflation will persist at elevated levels for longer and keeping the Federal Reserve on the path of aggressive interest-rate hikes. The core consumer price index, which excludes food and energy, increased 0.6% from a month earlier and 6.2% from April 2021, according to Labor Department data released Wednesday. The broader CPI rose 0.3% from the prior month and 8.3% on an annual basis, a slight cooling but still among the highest readings in decades.”
Lagarde Joins ECB Officials Signaling July as Rate Liftoff
“European Central Bank President Christine Lagarde said a first interest-rate increase in more than a decade may follow “weeks” after net bond-buying ends early next quarter, joining a growing crowd of policy makers signaling a move as soon as July.”
China Inflation Exceeds Forecasts as Lockdowns Roil Supplies
“China’s factory and consumer prices rose faster than expected in April as Covid lockdowns battered supply chains and pushed people to stockpile food. The producer price index rose 8% from a year earlier compared to 8.3% in March, official data showed Wednesday, above the median estimate of a 7.8% increase in a Bloomberg survey of economists. Consumer-price growth accelerated to 2.1% from 1.5% in the previous month, faster than a projected 1.8% gain.”
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