The year-on-year rate of inflation in the United States fell again in April, for the tenth consecutive month, and stood at 4.9%, one tenth less than in March, according to data published this Wednesday by the Bureau of Labor Statistics (BLS).
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The timid drop of one tenth occurs after the drop of one point in March compared to February, which was the strongest drop since the indicator began to decline in July 2022. 4.9% is the lowest figure since May 2021.
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In monthly terms, however, prices continue their upward streak and rose four tenths.
These data will be defining for the the Federal Reserve (Fed) decides, at its next meeting, whether to continue raising interest rates or pause.
The housing index was the one that contributed the most to the monthly increase in prices, with a rise of four tenths. Year-on-year, it accumulates an increase of 8.1% compared to April 2022.
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Used cars and trucks also rose considerably, 4.4%, although they accumulated a year-on-year drop of 6.6%, and gasoline, 3%, with a year-on-year drop of 12.2%.
Total energy increased 0.6% in April and accumulates a fall of 5.1% year-on-year.
The food index remained unchanged in April and in year-on-year terms accumulates a rise of 7.7%. Core inflation, which measures the rise in consumer prices minus food and energy prices, the most volatile, rose four tenths in April and placed its interannual rate at 5.6%.
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The inflation data is released at a key moment, in which it is closely analyzed whether the constant interest rate hikes carried out by the Fed are having the desired effect of containing prices.
Since reaching its peak of 9.1% in June 2022, inflation has been falling, as a result of the increases that seek to cool the economy.
The last, the tenth rise, took place last week and was 0.25 points, so interest rates currently sit in a range of between 5 and 5.25%.
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The regulator’s chairman, Jerome Powell, explained at the post-announcement press conference that Future rate hikes will depend on the macroeconomic figures recorded by the country in the coming weeks and that data such as unemployment or the inflation rate will be essential to decide whether to stop the rises.
On the 5th, the latest employment data was released, which fell one tenth in April and stood at 3.4%. The next meeting of the Federal Open Market Committee (FOMC) of the Fed will take place on June 15 and 16.
EFE
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