Inflation Data Leaped In The US

Inflation data leaped in the US. Inflation in the country has seen its peak in the last 13 years.

In the US, consumer prices rose by 4.2 percent on an annual basis in April. As a result, consumer inflation in the country recorded the highest level since 2008. According to the data, monthly inflation was recorded as 0.8 percent. Economists' expectation for monthly inflation was 0.2 percent. Core inflation excluding food and energy was 3 percent in April. The expectation for this data was 2.3 percent. On a monthly basis, core inflation was recorded as 0.9 percent, against the 0.3 percent expectation. Following the stimulus package of US President Joe Biden and the upward movement in global commodities, there was an upward movement in inflation expectations in the country.

FED Members Don't Worry About Inflation

FED (US Federal Reserve) members stated that there is no need to worry about inflation in their last statements before the data and reiterated their view that the increase in inflation will be temporary. Stating that the view of the American economy is "bright", FED member Lael Brainard stated that they are far from their targets as the FED and that it is necessary to be patient to reach the targets.