In April, inflation in the U.S. fell to 2.3%, its lowest since February 2021, according to the Bureau of Labor Statistics. The consumer price index showed a minor rise in core goods prices, consistent with predictions, while the increase in shelter costs significantly affected the overall CPI. Experts encourage brands to utilize this positive trend to enhance consumer relations as market dynamics change. Additionally, the Federal Reserve's forecast for rate cuts has been adjusted to only two this year, reflecting stable inflation and a robust labor market.
Inflation fell to its lowest rate since February 2021, with the consumer price index at 2.3% in April, reflecting weaker-than-expected pricing trends.
Rob Holston emphasizes that brands can leverage positive market momentum to deepen connections with consumers, adapting to shifting conditions for better relationships.
Shelter costs primarily drove April's CPI increase by 0.3%, contributing over half to the overall monthly rise, while food and used car prices saw declines.
EY's economist Gregory Daco revised projections to expect only two rate cuts this year, predicting September for the first cut, reflecting stable inflation and strong labor markets.
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