Dmytro Kharkov

Gregory Daco: U.S. inflation accelerates in April as CPI rises 0.6 percent

Gregory Daco: U.S. inflation accelerates in April as CPI rises 0.6 percent
U.S. CPI inflation up 0.6 percent

Gregory Daco highlights that U.S. consumer price index (CPI) inflation increased in April, with headline CPI climbing 0.6 percent and core CPI up 0.4 percent.

Food and energy prices posted notable gains, with energy up 3.8 percent and gasoline surging 5.4 percent. Within the core services category, shelter increased 0.6 percent, while hotel and air fares each advanced 2.8 percent.

Earlier this month, Daco noted the U.S. services sector remained in expansion as the ISM index posted 53.6, although inflation held at previous highs. He has also pointed to moderating labor costs creating risks to consumer income as wage growth slowed. These factors follow a period of persistent price pressures.

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