Figures to be published on Wednesday.
Forecasters expect a monthly report on US consumer prices to show inflationary pressures moderated in April after three straight worse-than-anticipated readings to start the year.
“The Fed has effectively moved to the sideline, postponing any thought of a rate cut until the inflation data show sustained improvement,” Stephen Stanley, the chief economist at Santander US Capital Markets, said in a May 14 note. “In that context, I look for the April CPI to represent a small step in the right direction.”
“Based on changes in market rents, home prices, and the BLS’s repeat and new tenant rent indexes, we think the next leg lower will occur in Q2. We pencil in combined rent and OER inflation at just over 0.40%,” Andrew Schneider, a senior US economist at BNP Paribas, wrote in a May 14 note previewing the April numbers.
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