CPI report is out and Consumer inflation in the United States hit a three-year high in April, government data showed on Tuesday, with the economic fallout of the Iran war rippling through the world's largest economy. The consumer price index (CPI) rose 3.8 percent year-on-year, up from March's 3.3 percent figure, the US Bureau of Labor Statistics (BLS) said.
U.S. consumer prices rose at a brisk clip for a second straight month in April, resulting in the largest annual increase in inflation in nearly three years and further bolstering expectations the Federal Reserve would keep interest rates unchanged for a while. The Consumer Price Index increased 0.6% last month after surging 0.9% in March, the Labor Department's Bureau of Labor Statistics said on Tuesday.
