U.S. Inflation Stuck Above Target -- Market Talk

Dow Jones05-03

0944 ET - A slowdown in U.S. inflation has been halted for now, Bank of America economists say in a note. They estimate that underlying inflation held at 3.1% quarter-over-quarter for the third consecutive quarter, following seven straight quarterly declines. The Fed targets 2%. "Even if inflation does not firm, above-target inflation outcomes could cause inflation expectations to eventually move higher," they say. BofA doesn't expect price increases to accelerate, but says inflation "needs to trend lower to bring rate cuts into focus." (paulo.trevisani@wsj.com; @ptrevisani)

(END) Dow Jones Newswires

May 03, 2024 09:44 ET (13:44 GMT)

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