April CPI Rises More Than Expected | 2nd Month Of 40-Yr High Inflation | David Madden
10On ET Now we are joined by David Madden to discuss US inflation. There was a lot of anticipation building that inflation in the US would moderate in April. It is moderated from the 8.5% in March, but it still proves to be a disappointing number, going down only marginally from its 40-year high. Core CPI, which does not include food and energy prices, gained 6.2%, higher than consensus estimates of 6%. Equity markets have fallen dramatically since the last FOMC meeting and continue to be under pressure. The cryptocurrency markets, too, have been facing pressure, with bitcoin sliding below the $30,000-mark for the second time in a week. Following the global trend, India, too, continues to deal with an ever-growing inflation threat, with CPI for April expected to touch an 18-month high. Watch Now!
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