US Inflation Falls As Expected In April, Bolsters Fed Rate Cut Bets
US Inflation Falls As Expected In April, Bolsters Fed Rate Cut Bets
U.S. inflation data for April came in broadly in line with analyst estimates Wednesday, breaking a concerning three-month streak of higher-than-expected readings and reigniting hopes for a return to the Federal Reserve's 2% inflation target.
美国4月份的通胀数据与分析师周三的估计基本一致，打破了令人担忧的连续三个月高于预期的数据，并重新点燃了美联储恢复2％通胀目标的希望。
Last month, the Consumer Price Index (CPI) showed a year-over-year increase of 3.4%.
上个月，消费者价格指数（CPI）同比增长3.4％。
Before the inflation report, traders expected the Fed to reduce interest rates by 50 basis points (two 25-basis-point cuts) by the end of the year, beginning in September. The benign April inflation report could further reinforce those expectations.
在通胀报告发布之前，交易员预计，美联储将从9月开始在年底之前将利率降低50个基点（两次下调25个基点）。4月份温和的通货膨胀报告可能会进一步强化这些预期。
Simultaneously, the U.S. Census Bureau reported flat monthly growth in retail sales for April, sharply slowing from the downwardly revised 0.6% rise and missing the estimate of 0.4%. When excluding autos, retail sales advanced at a 0.2% pace, decelerating from the previous 0.9% increase but matching the expected 0.2% rise.
同时，美国人口普查局报告称，4月份零售销售月度增长持平，与向下修正的0.6％相比大幅放缓，未达到0.4％的预期。不包括汽车，零售额以0.2％的速度增长，低于之前的0.9％的增长，但与预期的0.2％的增长相当。
April CPI Report: Key Highlights
四月消费者价格指数报告：主要亮点
- The headline CPI inflation rate surged by 3.4% in April compared to the same month last year, down from 3.5% in March and in line with the forecasted 3.4% increase.
- On a monthly basis, headline CPI inflation increased by 0.3%, decelerating from the previous 0.4% and missing the predicted 0.4%.
- Notably, gasoline experienced a 2.8% surge in April, accelerating from 1.5% in March.
- Excluding energy and food, the core CPI inflation rate eased from 3.8% to 3.6% year-over-year, matching the expected 3.6%.
- On a monthly basis, core CPI inflation rose by 0.3%, slightly below the previous 0.4% but in line with estimates.
- Shelter rose 0.4%, maintaining the same pace as in March.
- 与去年同月相比，4月份的总体消费者价格指数通货膨胀率飙升了3.4％，低于3月份的3.5％，与预期的3.4％的增幅一致。
- 按月计算，总体消费者价格指数通胀率增长了0.3％，低于之前的0.4％，未达到预期的0.4％。
- 值得注意的是，4月份汽油价格上涨了2.8％，高于3月份的1.5％。
- 不包括能源和食品，核心消费者价格指数通货膨胀率同比从3.8％降至3.6％，与预期的3.6％相符。
- 按月计算，核心消费者价格指数通胀率上涨0.3％，略低于之前的0.4％，但与预期一致。
- 避难所上涨了0.4％，与3月份持平。
| Category | April | Forecasted | March |
|---|---|---|---|
| Headline CPI (YoY) | 3.4% | 3.4% | 3.5% |
| Headline CPI (MoM) | 0.3% | 0.4% | 0.4% |
| Core CPI (YoY) | 3.6% | 3.6% | 3.8% |
| Core CPI (MoM) | 0.3% | 0.3% | 0.4% |
| 类别 | 四月 | 已预测 | 三月 |
|---|---|---|---|
| 总体消费者价格指数（同比） | 3.4% | 3.4% | 3.5% |
| 总体消费者价格指数（月度） | 0.3% | 0.4% | 0.4% |
| 核心消费者价格指数（同比） | 3.6% | 3.6% | 3.8% |
| 核心消费者价格指数（月度） | 0.3% | 0.3% | 0.4% |
Market Reactions: Yields, Dollar Drop, Stock Futures Jump
市场反应：收益率、美元下跌、股票期货上涨
Immediate market reactions to the April inflation report saw Treasury yields easing across the board, with the rate-sensitive two-year yield retreating to 4.72%, crucially breaking below its 200-day moving average.
市场对4月份通胀报告的直接反应使美国国债收益率全面放松，对利率敏感的两年期国债收益率回落至4.72％，严重跌破了200天移动平均线。
The U.S. dollar index (DXY), closely tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP), weakened by 0.5%.
景顺数据库美元指数看涨基金ETF（纽约证券交易所代码：UUP）密切关注的美元指数（DXY）下跌0.5％。
Futures on major U.S. equity indices turned to gains during premarket trading. The tech-heavy Nasdaq 100 index, tracked by the Invesco QQQ Trust (NASDAQ:QQQ), closed at an all-time high on Wednesday.
在盘前交易中，美国主要股指的期货转为上涨。景顺QQ信托基金（纳斯达克股票代码：QQQ）追踪的以科技股为主的纳斯达克100指数周三收于历史新高。
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译文内容由第三方软件翻译。