According to Commerce Department data on Friday, the personal consumption expenditure price index rose 4.4% in April, from 4.2% in March, against expectations for a slowdown to 3.9%. .
On a monthly basis, the index rose as expected by 0.4% after rising 0.1% in March.
Meanwhile, the price index for basic personal consumption expenditures, which excludes volatile food and energy costs, rose 4.7% year on year in April, against a forecast of 4.6% , while rising 0.4% month-on-month, against a forecast of 0.3. percent.
The figures come as Fed policymakers face the task of making a major decision at their next meeting in June.
The debate revolves around whether policymakers will end the year-plus cycle of tightening interest rates aimed at curbing high inflation or continue to raise them.
The CME FedWatch Index reversed previous expectations earlier this week, showing that the market expected the Fed to keep interest rates as they are, so expectations are now reaching 56.3%, that the Fed will raise interest rates again by 25 basis points. at its next meeting.
Read the Latest World News Today on The Eastern Herald.
