US inflation up moderately in April, consumer spending weakens

📆 5/31/2024 9:36 PM
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U.S. inflation tracked sideways in April and consumer spending weakened, mixed signals for the Federal Reserve that provided little clarity on whether it will be able to begin cutting interest rates in September.

<p>WASHINGTON — U.S. inflation tracked sideways in April and consumer spending weakened, mixed signals for the Federal Reserve that provided little clarity on whether the U.S.

com/news/stream/inflation" rel="follow" target="_blank">inflation</a> in the coming months,&quot; said Elizabeth Renter, a senior economist at NerdWallet.

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An inflation gauge closely tracked by Federal Reserve rises at slowest pace this yearThe latest figures could provide some tentative reassurance for Fed officials, who aggressively raised interest rates to fight inflation, that price pressures are easing.
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