inflation 2023

The April Consumer Price Index numbers were released on Wednesday, showing inflation for April at 5.375% exactly as predicted, quelling fears that it would be higher than expected. Over the last 12 months, inflation was reduced to 4.9%, lower than last month’s 5%.

On Thursday, the April Producer Price Index was released and was much better than expected at 2.1% instead of the anticipated 3.1%. The year-over-year went from 2.7% to 2.3%. As an added bonus, the initial jobless claims were expected to be 245,000 but were higher at 264,000.

These figures give the Fed a reason to pause their increases, and interest rates are reacting positively. With this news, the buyers will keep coming.

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