U.S. April CPI and Core CPI Surpass Expectations, Year-over-Year Figures Hit New Highs

According to data released last night, the U.S. April CPI increased by 0.6% month-over-month, in line with expectations, slowing from 0.9% in March; year-over-year, it rose by 3.8%, higher than the expected 3.7% and the previous 3.3%, reaching a new high since May 2023;

As for core CPI, it increased by 0.4% month-over-month, above the expected 0.3% and the previous 0.2%; core CPI year-over-year rose to 2.8%, exceeding the expected 2.7%, reaching a new high since September 2025.

In summary, although the month-over-month growth rate has slowed, both April CPI and core CPI increased, indicating that the transmission effects of energy prices and housing statistics disturbances are still ongoing.

This data is also the first inflation "report card" since Wash took over as Federal Reserve Chair, implying that the new chair faces not a loosening window but persistent inflation pressures.

Analysis indicates that the U.S. April inflation data has prompted the market to adjust expectations for Federal Reserve monetary policy. Investors currently expect the Fed to delay interest rate cuts, maintaining a high-rate environment for a longer period.

As a result, assets sensitive to interest rate changes, such as gold and cryptocurrencies, may experience significant volatility in the short term. Market participants should closely monitor the performance of these assets under the new interest rate expectations.

#CPI # Inflation data