US Retail Inflation Inches Up in April By - Fri 10 May 17:49 GMT

U.S. Retail Inflation Inches Up in April

US Retail Inflation Inches Up in April By

  The consumer price index rose from a year ago, while core inflation, that excludes volatile food and energy costs, increased .

  The Fed has repeatedly cited sluggish inflation as a primary reason why it can hold off on hiking rates this year.

  U.S. President Donald Trump has pressured the Fed to lower interest rates by up to 100 basis points and to resume 'quantitative easing' in order to spur economic growth, He had criticized both QE and the Fed's low interest-rate policy before becoming President.

  Fed Chairman Jerome Powell said after the central bank's last policy meeting that there was no compelling reason for interest rates to move either higher or lower in the near term.

  Since the Fed’s preferred inflation measure, the core personal consumption expenditure (PCE) price index, sank to 1.6% in March, the chorus of policymakers has suggested that it was due to “transitory” factors, including a 30% drop in wholesale gasoline prices between September and December last year.