The Fed: The U.S. Inflation to Soar
Last week, the Fed decided to hold its benchmark rate unchanged, yet the Fed stated that the U.S. inflation to spike further. The statement was in stark contrast to its statement in March’s meeting in which the Fed stated that the U.S. inflation to move slightly lower than 2%.
April’s Inflation of 3.41%
The Central Statistics Agency released the April’s inflation of 3.41% in last week. The figures are slightly higher than the March’s inflation of 3.40% and lower than the consensus of 3.50%. It evidence that the government has succeeded in controlling inflation even though the pressure ahead of Ramadhan days. However, foreign investors oversee that the government’s significant intervention in inflation likely impacts on the state budget reform carried on since 2014.
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