May 15, 2024
United States:
US Core CPI Cools for First Time in Six Months in Relief for Fed
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
The so-called core consumer price index, which excludes food and energy costs, increased 0.3% from March, according to government data out Wednesday.
Europe:
Euro-Zone Soft Landing on Track But With Wider Deficit, EU Says
The euro-area economy is still headed for a soft landing, with inflation backpedaling more quickly than previously expected and growth picking up through next year, according to the European Commission.
Gross domestic product will increase by 0.8% this year and 1.4% in 2025 — almost unchanged compared with the last set of forecasts three months ago, the EU’s executive arm said Wednesday in a report. It now sees inflation slowing to 2.5% and 2.1% this year and next — down from 2.7% and 2.2% previously.
Asia:
Yen Surges Versus Dollar as CPI Shows Easing Inflation Pressures
The yen jumped more than 1% against the dollar after a reading of US consumer price growth showed softening inflation pressure.
The rally in the yen came as a Bloomberg gauge of the greenback and US Treasury yields tumbled in the session following the release of the April US CPI report. The data revealed that the so-called core measure of inflation rose 0.3% from March.
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