Data released moments ago by the US Bureau of Labor Statistics showed that the Consumer Price Index (CPI), which measures inflation, rose by 0.6% in April, compared to 0.9% growth in March, matching market expectations. The core CPI, which excludes food and energy prices, rose by 0.4%, compared to 0.2% (expectations were for 0.3%).

Meanwhile, the annual CPI over the past 12 months rose to 3.8%, compared to 3.3% in March, exceeding expectations. The core annual CPI also rose to 2.8%, up from 2.6%. In detail, the energy index recorded an increase of 3.8% in April on a monthly basis and a rise of 17.9% on an annual basis. The food index rose in April to 3.2% on an annual basis from 2.7% in March, while the housing and shelter index rose to 0.6% from 0.2% on a monthly basis and to 3.3% on an annual basis from 3%.