US Core Inflation Rate YoY (Apr) Y/Y 2.8% vs. Exp. 2.7% (Prev. 2.6%, Low. 2.6%, High. 2.9%); Unrounded: 2.750%
The US Core Inflation Rate for April came in at 2.8%, slightly above expectations of 2.7% and up from the previous reading of 2.6%.
JD.com (JD) exec says due to rising memory costs, have seen industry wide price hikes for smartphones and PCs since March; in the short term electronics price hikes does dampen consumer demands to some extent
US CPI Core Goods & Services April (M/M SA, Y/Y NSA) + Supercore
US Core Inflation Rate YoY (Apr) Y/Y 2.8% vs. Exp. 2.7% (Prev. 2.6%, Low. 2.6%, High. 2.9%); Unrounded: 2.750%
UK Transport Secretary Heidi Alexander is backing plans for Andy Burnham to return to parliament, The Times' Maguire reports
ADNOC CEO says the world is 1bln barrels short due to the Strait of Hormuz closure
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This upward surprise could influence the Federal Reserve's approach to monetary policy, indicating persistent inflationary pressures that may warrant continued tightening. Market participants should watch for potential recalibrations in rate expectations as this data reinforces concerns around the growth-inflation mix.
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