Inflation eased a bit more in April with the year-over-year headline Consumer Price Index rate falling to its slowest pace in more than four years.
The April CPI rose 0.2%, according to the Bureau of Labor Statistics. That’s less than economist forecasts for 0.3%, though up from -0.1% in March. On a year-over-year basis, CPI was higher by 2.3%, the slowest amount since February 2021. Forecasts had been for 2.4% and March’s pace was 2.4%.
Core CPI, which strips out food and energy costs, rose 0.2% in April, up from 0.1% in March, but less than 0.3% expected. Core CPI year-over-year rose 2.8%, flat from March and in line with forecasts for 2.8%.
Bitcoin (BTC) added modestly to some overnight gains, trading at $103,800 in the minutes following the fresh data.
U.S. stock index futures swung from small losses to small gains after the print and the 10-year Treasury yield dipped one basis point to 4.44%.
