The Federal Reserve's preferred inflation gauge indicated that core inflation reached an annual rate of 3.3% in April. This figure aligned with market expectations.
This increase, largely attributed to a war-driven price shock, pushed inflation to its highest point in nearly three years. It also represents the first inflation report released under new Fed chief Kevin Warsh, with the measure remaining above the central bank's target.
The 3.3% core inflation rate for April underscores persistent price pressures in the economy. This is a developing story and will be updated as details emerge.
