Inflation's "high fever" persists, US consumer confidence drops to freezing point

Golden Finance reports that on May 10th, this Tuesday, the U.S. April CPI monthly rate is expected to surge by 0.6% month-on-month, continuing the strong upward trend since March. Since the escalation of Middle East tensions at the end of February, gasoline prices have soared over 50%, with the average price surpassing $4.50 per gallon, driving up the prices of airline tickets and other goods and services. The core CPI, excluding food and energy, has also accelerated slightly. A survey by the University of Michigan shows that consumer confidence has fallen to a record low, with household financial conditions and purchasing power remaining under pressure. Market research indicates that inflation remains high, retail data has only slightly slowed, and the Federal Reserve’s urgency to cut interest rates in the short term is lacking. If the April core CPI continues to stay firm, it may lead the Fed to maintain a hawkish stance for a longer period. Additionally, this Wednesday’s PPI is expected to increase by 0.5% month-on-month, and Thursday’s retail data will reveal the impact of high oil prices on consumer spending.