POTUS Touts CPI Data As Inflation Remains Low

U.S. consumer prices increase by 0.3% in the month of April indicating inflation remained relatively low.

The Labor Department released the data Friday indicating the Consumer Price Index (CPI) rose slightly as a result of increasing healthcare, rent, and gasoline costs.

Gas prices increased by 5.7% last month and were responsible for over two-thirds of the CPI increase overall.

Healthcare and rent costs increased 0.3% which was the same measure as the previous month.

President Trump touted the government data saying, “We have a great chance to “really rock!” Good numbers all around.”

According to the data, the Federal Reserve is unlikely to change interest rates in the immediate future.

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