- Inflation in the US falls more than expected in April.
- US Dollar Index stays in the negative territory below 100 after the data.
Inflation in the US, as measured by the Consumer Price Index (CPI), slumped to 0.3% on a yearly basis in April from 1.5% in March. The core CPI, which excludes volatile food and energy prices, dropped to 1.4% and fell short of the market expectation of 1.7%.
On a monthly basis, the CPI and the core CPI came in at -0.8% and -0.4%, respectively.
These readings were largely ignored by the market participants. As of writing, the US Dollar Index was down 0.42% on the day at 99.82.