Inflation rises at highest rate since 2008, core inflation highest since 1982. High inflation and weaker job growth has analysts now fearing stagflation.
The Consumer Price Index (CPI) rose 0.8% in April, bringing the level 4.2% higher than a year ago, the largest increase since 2008. The increase was much higher than analysts and the Fed had expected.
Core inflation (which includes energy and food) was even more surprising, growing at 0.9% in one month, the highest increase since 1982.
The number follows an April jobs report last week that was so bad, people called it "the worst miss ever". Just 266,000 jobs were added in the month, far worse than the 1,000,000 that had been expected.
SOURCES:
- US Bureau of Labor Statistic
- Reuters
The Consumer Price Index (CPI) rose 0.8% in April, bringing the level 4.2% higher than a year ago, the largest increase since 2008. The increase was much higher than analysts and the Fed had expected.
Core inflation (which includes energy and food) was even more surprising, growing at 0.9% in one month, the highest increase since 1982.
The number follows an April jobs report last week that was so bad, people called it "the worst miss ever". Just 266,000 jobs were added in the month, far worse than the 1,000,000 that had been expected.
SOURCES:
- US Bureau of Labor Statistic
- Reuters
Trade active:
1793 - 1810 is pullback zone before continuation uptrend.