U.S.

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.

Tags

Related Articles

Back to top button