The April Consumer Price Index (CPI) showed that inflation moderated last month, but a data-dependent Federal Reserve will likely need to see more dovish developments before it enacts its first interest rate cut, experts say.
Headline inflation rose 0.3% in April vs 0.4% the previous month, the Bureau of Labor Statistics said Wednesday, matching economists' forecast. On an annual basis, headline inflation increased 3.4%. That was lower than March's print of 3.5%.
