Shelter and gasoline accounted for over 70% of the increase, the BLS said in the report.
Many of the nation’s tollways operate in a handful of states. Unlike other states, Texas lags behind in toll discount programs.LISTEN
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking toThe so-called core consumer price index, which excludes food and energy costs, increased 0.3% from March, according to government data out Wednesday. From a year ago, it advanced 3.6%.Economists see the core gauge as a better indicator of underlying inflation than the overall CPI. That measure climbed 0.3% from the prior month and 3.
Treasury yields tumbled, S&P 500 index futures rose and the dollar weakened. Traders boosted the odds of a September rate cut to about 60%.The central bank is trying to rein in price pressures by weakening demand across the economy. Separate data out Wednesday showed retail sales stagnated in April, indicating high borrowing costs and mounting debt are encouraging greater prudence among consumers.
A report Tuesday showed producer prices rose in April by more than projected, but key categories that feed into the PCE were more muted. Combined with CPI components that also inform the PCE calculation, economists expect that measure to come in softer when April data is released later this month.“The report will probably add a bit to Fed confidence about disinflation progress — but they’re likely still less confident than they were entering 2024.
Separate data Wednesday showed real earnings on an annual basis rose at the slowest pace in nearly a year.Netflix nears deal for NFL games, extending push into sports
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