Cooling US Prices Halt Dollar’s Advance
The Federal Reserve’s preferred inflation measure came in as forecast in April, but underlying price pressures cooled, slightly raising odds on an easing cycle beginning in the autumn months. Data released by the Bureau of Economic Analysis this morning showed the core personal consumption expenditures index rising 0.3 percent in April from the prior month, matching market forecasts. On a year over year basis, base effects saw core price growth stabilising at 2.8 percent, the same as in March, aligning with economist estimates. The overall personal consumption expenditures index was up 0.3 percent from the prior month, 2.7 percent higher...