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Economic Indicators

11 May 2022

U.S. Inflation Relief for April Fell Short of Expectations because of Robust Core CPI

U.S. Inflation Relief for April Fell Short of Expectations because of Robust Core CPI

The Index Today

Inflation in the U.S. retreated only slightly during the month of April, falling short of expectations as firmer core CPI persists.

According to Investing.com, although inflation dipped from 8.5% to 8.3% as the previous year’s upsurge in used car costs tapered of the year-over-year estimates, it still remains above the 8.1% gauge. This can be attributed to the larger-than-anticipated upswing in core prices with the core CPI climbing by 0.6% in April in lieu of the expected 0.4%.

As a result, U.S. stock futures have slumped with renewed assumptions that the U.S. Federal Reserve will have to adopt a more hawkish stance to counter red-hot inflation. S&P 500 Futures fell by 1.6% by 8:45 AM ET (1345 GMT). Simultaneously, the 10-Year U.S. Treasury yields climbed by 4 basis points, returning to trading above 3%, reported Investing.com.