The breakneck pace of US consumer price increases is expected to have remained at a four-decade high in April despite moderating slightly, underscoring the urgency of the Federal Reserve’s push to stamp out inflation.
According to a consensus forecast compiled by Bloomberg, the consumer price index is set to have risen at an annual pace of 8.1 per cent last month, marginally lower than the 8.5 per cent increase recorded in March.
Prices are predicted to have climbed 0.2 per cent from the previous month, slower than the 1.2 per cent rise recorded in March that was fuelled by soaring energy and food costs tied to Russia’s invasion of Ukraine.
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