The numbers: A key measure of U.S. inflation rose just 0.2% in April to mark the smallest increase in a year and a half, aided by lower gasoline prices. There were additional hints that a surge in U.S. inflation might be abating.
The increase in the so-called personal consumption price index, or PCE, was its smallest since November 2020. The Fed views the PCE index, the core rate in particular, as the most accurate measure of U.S. inflation. It’s more comprehensive and takes into account when consumers substitute cheaper goods for more expensive ones — say, ground beef for filet mignon or frozen spinach for fresh.
In a bid to quell inflation, the Fed is moving to swiftly raise a key short-term interest rate that it kept near zero percent during most of the pandemic. The resulting increase in interest rates on car loans, mortgages and business lending is likely to slow the economy, though Fed officials maintain they can bring down inflation without triggering a recession.
So wait, you're saying inflation is transitory?
The only way to get inflation down is by rigging all measuring tools.
With fuel raging? How do you think you get these products
Eureka? A country for old men again...
Beee Essss
Why does it feel like this won’t age well
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