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Hot CPI locks Fed into holding pattern, fueling rate hike fears
US consumer prices climbed more than expected in April, reigniting fears that persistent inflation will keep the Federal Reserve sidelined well into next year and potentially force its hand toward rate hikes, analysts warned Tuesday. Headline CPI rose 3.8% year-on-year, driven largely by surging energy prices linked to the Iran conflict and disruption through the Strait of Hormuz.
US consumer prices climbed more than expected in April, reigniting fears that persistent inflation will keep the Federal Reserve sidelined well into next year and potentially force its hand toward rate hikes, analysts warned Tuesday. Headline CPI rose 3.8% year-on-year, driven largely by surging energy prices linked to the Iran conflict and disruption through the Strait of Hormuz.