Has inflation peaked in the United States? Today’s update from the Bureau of Labor Statistics shows the annual rate of inflation has fallen slightly, from 8.5 per cent in March down to 8.3 per cent in April. There are signs of slowdown in the monthly figures, too: prices rose 0.3 per cent between March and April, after rising 1.2 per cent between February and March.
The Democrats will struggle to hail this relatively small dip as any kind of meaningful victory
Still, markets don’t seem particularly encouraged by the news. US stock futures immediately took a dip when the figures landed. Emphasis seems to be on the fact that inflation once again outpaced predictions, with CPI up 0.3 per cent on the month, despite the consensus predicting a rise of 0.2 per cent.
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There are still plenty of reasons to fret over rising prices.
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