The annual inflation rate fell slightly in April, according to the Bureau of Labor Statistics. Despite persistent price pressures from housing and gasoline in the April inflation data, investors see a ray of hope for potential interest rate cuts by the Federal Reserve in the near future.
Last month, the consumer price index slowed to 3.4 percent, down from 3.5 percent in March. This was in line with market estimates. The CPI rose by 0.3 percent monthly, down from 0.4 percent in the previous month and below the consensus forecast of 0.4 percent.
