“US Consumer Price Index Slows to 4.9% YoY, Indicating Fed Tightening Pause”

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 CPI index (“core”), which excludes volatile elements such as food products and energy, rose by 0.4% in April while over one year its increase is 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.