Inflation Stays Stable in April 2023
By Garvit Vyas , 19 May, 2023
Due to the rise in housing costs, the core Consumer Price Index (CPI) shows a higher reading than all other items. Food and energy are the volatile items in the CPI; thus, they rose faster when inflation occurred in 2021. But they are also cooling faster, especially the prices of energy. Therefore, these developments are expected to lead the Fed's tightening cycle to stop reigning inflation. The central bank announced another increase of the federal funds rate target of 0.25 percent. This rate is projected to be the last hike by most of the Federal Open Market Committee.
Inflation started spiking in the summer of 2021, reversing the pandemic's cooling effect on consumer prices. At the onset of the pandemic, prices suffered due to the sudden drop in consumer spending and fuel demand before rising slowly back to the position of pre-pandemic over the summer and fall.
U.S. Consumer Price Index
Year - Over - Year Percent Change Through April 2023
Latest News
Companies are making significant moves towards the clean energy transition in various ways. In order to reduce carbon emissions, certain companies are investing in several rescue methods in 2024. Renewables production is growing over time as the…
Amazon is one of the leading global e-commerce platforms for consumers. The brand boosts its online shopping experience for users in multiple ways. Surveys show that Amazon regulates several business solutions to increase its products and services…
Globally, countries are facing challenges in the transformation of green energy. The economies worldwide target to achieve net zero emissions. Hence, countries are introducing several ways to reduce environmental carbon emissions. Developing…
China is the leading nation in the energy market. Since the clean energy transition focuses on renewables, China surpasses other nations in renewables production. In a mission to strengthen its energy security, China moves forward with oil and gas…
There will be a surge in copper demand in the energy market in 2024. The growing demand for copper contributes to different usages in the energy market. China stands out in the copper exports of 2024. The Chinese economy is booming, with an…
Analyst