Thursday, June 1, 2023

The rise in prices in the US rebounded in April to 4.4%

He price index of personal consumption spending USA, The statistic chosen by the Federal Reserve (Fed) to monitor inflation, stood at 4.4% year-on-year in April, which represents a rise of two tenths compared to March, as revealed this Friday by the Office of Economic Analysis of the Department of Commerce.

The underlying index, which excludes food and energy prices from its calculation due to their higher volatilityclosed the fourth month of 2023 with an increase of 4.7%, one tenth more than the previous month.

In monthly rates, the general variable of the index experienced an advance of 0.4%, three tenths more, while the underlying variable also advanced 0.4%, one tenth more since March. The food prices they grew by 6.9%, while those of energy fell by 6.3%.

To cope with rising prices, the Federal Reserve raised interest rates 25 basis points, to a range between 5% and 5.25%, on May 3. The next revision of this figure will be announced on June 14, the day the Fed officials will meet again.


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