U.S. inflation up 3.4% on year in April showing continued slowdown in consumer prices

美 4월 소비자 물가 3.4%↑ 올해 첫 상승세 완화
The pace of inflation in the U.S. slowed a tad, rising 3-point-4 percent on-year in April.
U.S. stock markets hit fresh highs on the news of the easing of consumer prices.
Lee Seung-jae has more.
Inflation in the U.S. eased slightly last month, while core inflation, which exclude the volatile food and energy prices saw its lowest increase since April 2021.
The U.S. Department of Labor announced on Wednesday that the U.S. consumer price index rose 3-point-4 percent in April, compared to the same period last year.
This is a decrease of zero-point-one percentage points from the previous month, and the first time the upward trend has eased this year.
Core inflation rose 3-point-6 percent, marking the smallest year-on-year gain since April 2021, and follows a 3-point-8 percent increase in the previous month.
U.S. inflation peaked at 9-point-1 percent in June 2022, and began easing, fluctuating in the low to mid three percent range starting June 2023.
While the upward trend continued this year, it began easing last month, showing the first signs of a reversal.
The U.S. stock market reacted positively to the news of easing U.S. inflation.
The S&P 500 rose 1-point-2 percent to surpass a previous high set a month and a half ago, while the tech-heavy Nasdaq jumped 1-point-4 percent, topping a record high set the day before.
The Dow Jones Industrial Average added 349 points,.. or zero-point-9 percent,.. also hitting a fresh high.
Positive momentum on the stock market comes amid rising expectations among traders that the U.S. central bank may finally cut its main interest rate this year,.. following the release of the latest inflation data.
Lee Seung-jae, Arirang News.
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2024-05-16, 09:00 (KST)