Airfare, car insurance and clothing were among the items driving the increase over the month.
Grocery prices, which have jumped in recent years, fuelling public discontent, were unchanged.
Grocery prices, which have jumped in recent years, fuelling public discontent, were unchanged.
Inflation has slowed significantly since the Fed started hiking borrowing costs sharply in 2022 and the bank is expected to start reversing course and cutting interest rates sometime this year.
But calls for the first cut to come as soon as March have been revised as recent inflation readings show progress stalling, with many now expecting its first move in June or later.
Analysts said the figures were affected by seasonal price adjustments tied to the start of the year, but that the overall report was likely to reinforce the Fed’s determination to remain cautious.
“This print is just about enough to keep rate cut expectations for June stable – but another print like this next month would push the first cut into the second half of the year, putting the soft landing narrative in question,” said Seema Shah, chief global strategist at Principal Asset Management.
Grocery prices, which have jumped in recent years, fuelling public discontent, were unchanged.
Airfare, car insurance and clothing were among the items driving the increase over the month.
Inflation has slowed significantly since the Fed started hiking borrowing costs sharply in 2022 and the bank is expected to start reversing course and cutting interest rates sometime this year.
Grocery prices, which have jumped in recent years, fuelling public discontent, were unchanged.
Grocery prices, which have jumped in recent years, fuelling public discontent, were unchanged.
Inflation has slowed significantly since the Fed started hiking borrowing costs sharply in 2022 and the bank is expected to start reversing course and cutting interest rates sometime this year.
But calls for the first cut to come as soon as March have been revised as recent inflation readings show progress stalling, with many now expecting its first move in June or later.
Analysts said the figures were affected by seasonal price adjustments tied to the start of the year, but that the overall report was likely to reinforce the Fed’s determination to remain cautious.
“This print is just about enough to keep rate cut expectations for June stable – but another print like this next month would push the first cut into the second half of the year, putting the soft landing narrative in question,” said Seema Shah, chief global strategist at Principal Asset Management.
#inflation #edges #Fed #debates #rate #cuts
Note:- (Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor. The content is auto-generated from a syndicated feed.))
