Breaking: US annual CPI inflation jumps to 4.2% in April

FXStreet Team FXStreet

Inflation in the US, as measured by the Consumer Price Index (CPI), jumped to 4.2% on a yearly basis in April from 2.6% in March, the data published by the US Bureau of Labor Statistics revealed on Wednesday. This reading came in higher than the market expectation of 3.6%. On a monthly basis, the CPI edged higher to 0.8% from 0.6%.

Further details of the publication revealed that the annual Core CPI, which strips the volatile food and energy prices, increased to 3% from 1.6%

Market reaction

The US Dollar Index surged higher after this data and was last seen gaining 0.55% on a daily basis at 90.65.

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FXStreet Team

FXStreet

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