May 10 (Reuters) – U.S. consumer prices slowed more than expected on an annual basis in April and came in line with month on month expectations, official data showed on Wednesday.
The Labor Department’s consumer price index (CPI) came in at 0.4% last month and is slowing to 4.9% year on year.
Economists polled by Reuters on average were forecasting a 0.4% month-on-month rise and a 5.0% year-on-year increase.
The basic CPI index (“core”), which excludes volatile elements such as food products and energy, emerged up 0.4% in April, while over one year its increase was 5.5%. , against a Reuters consensus of respectively +0.4% and +5.5%.
In the financial markets, futures contracts on Wall Street tipped in the green, while the yield of ten-year Treasuries accentuates its losses, yielding five basis points, to 3.47%, after the publication of these data which argue for a pause in the Fed tightening cycle. (Written by Claude Chendjou, edited by Blandine Hénault)
2023-05-10 12:45:19
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