On Wednesday, the government will issue the latest monthly inflation report, a set of figures that will be scrutinized by economists, Wall Street traders and Federal Reserve officials for any insight into that question.
A sign trumpets discounts available in a clothing store in a mall Monday, April 29, 2024, in Lone Tree, Colo. On Wednesday, May 15, 2024, the Labor Department issues its report on inflation at the consumer level in April.WASHINGTON — It’s perhaps the biggest question swirling around the U.S.
The Fed’s policymakers have raised their key interest rate to a 23-year high of 5.3% in an effort to quell rising prices. that the Fed will keep its rate at that level for as long as needed to fully conquer inflation, a signal that rate cuts won’t begin as soon as many people had hoped. Stubbornly elevated apartment rents are another key factor behind persistent inflation. Rents soared during the pandemic as more Americans chose to live alone or sought more living space. Though rents for new leases are rising much more slowly, consistent with pre-pandemic patterns, the earlier increases are still elevating the government’s price data.
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