Surprise fall in US inflation after Trump's ‘liberation day'
The rate of price growth in the world's largest economy cooled to 2.3 per cent on an annual basis in April, the lowest since February 2021, down from 2.4 per cent the previous month. Wall Street analysts had expected inflation to remain unchanged.
On a monthly basis, prices increased by 0.2 per cent, compared with a 0.1 per cent decline in March, but also slightly below analysts' forecasts. Core inflation, which strips out volatile food and energy prices, increased to 0.2 per cent in the month from 0.1 per cent, but was steady at 2.8 per cent year-on-year in April.
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