⚠️ SUMMARY OF US APRIL CPI REPORT:

1) Much to the satisfaction of Fed Chairman Jerome Powell, CPI comes in cooler than expected.

2) US CPI rose 0.3% on the month, below estimates for a gain of 0.4%.

3) Headline CPI inflation increased 3.4% Y/Y, matching expectations and slowing from 3.5% in March.

4) U.S. core CPI rose 0.3% M/M, meeting estimates.

5) Headline core CPI was up 3.6% Y/Y, decelerating from an increase of 3.8% in March. That is the lowest since April 2021.