While you were sleeping: Lukewarm inflation data lifts Wall St

Thu, 10 May 2018

By Margreet Dietz May 11 (BusinessDesk) - Wall Street rallied as a report showing lower-than-expected inflation eased concern the Federal Reserve will have to accelerate its planned pace of interest rate increases. A Labour Department report showed its consumer price index rose 0.2 percent in April, falling short of economists’ forecasts, while core CPI, which excludes food and energy prices, inched 0.1 percent higher last month. “This data lends to the argument that the Fed can normalise patiently, but the flip side is that prolonge...

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