The annual core consumer price growth of the US core PCE in April remained at 2.8%, which is the same as everyone's previous forecast and the same as the data of last month, which shows that the rate of price increase is relatively stable. The monthly growth rate is 0.2%, which is slightly lower and did not meet everyone's expectations, but it is consistent with the forecast of the previous week. This shows that the rate of price increase has begun to slow down.
In summary: Judging from these data, the situation is not bad. The month-on-month growth rate of US consumer prices in April has declined, which means that the work of controlling inflation has achieved certain results. However, although the annual growth rate has not changed, there is still some pressure on inflation compared with the same period last year.
Impact on the market: These good news may bring some support to the market, but how the market will go specifically depends on the situation after the opening of the US stock market and everyone's understanding of these data.
The view of the Fed Chairman: Powell said that some results have been seen in controlling inflation, and he does not think it is necessary to consider interest rate cuts now. This shows that the Fed is still very cautious about the issue of inflation and hopes that the economy can grow steadily.
