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FED STILL FACING INFLATION PRESSURE FROM ENERGY SHOCK The Fed’s preferred inflation gauge slowed in April but remained well above the centr…

FED STILL FACING INFLATION PRESSURE FROM ENERGY SHOCK The Fed’s preferred inflation gauge slowed in April but remained well above the central bank’s 2% target, highlighting ongoing pressure from rising energy costs linked to the Iran war. The PCE price index rose 0.4% in April after a 0.7% increase in March, while annual inflation held at 3.8%. Core inflation, which excludes food and energy, rose 0.2% on the month and 3.3% from a year earlier. Higher oil and gasoline prices have added to inflation concerns and weakened consumer sentiment, complicating the Fed’s path on interest rates. The report also showed consumer spending rose 0.5% in April, while personal income was unchanged.
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