The U.S. Department of Labor has recently released another report revealing the labor market stats for April 2016, Market Leader reports. The report also includes the Consumer Price Index (CPI) for the same reporting period.
The CPI increased by 0.4% in April 2016 relative to March 2016. It is interesting to note that this has been the biggest monthly growth over the last 3 years. As for the year-over-year figures, the Consumer Price Index gained 1.1% relative to the previous reporting period.
If to consider the Core CPI (excluding energy prices), the index gained 0.2% over the same reporting period, the U.S. Department of Labor reports. Year over year, the CPI gained as much as 2.1%. Please keep in mind that the forecast for both CPIs matched the actual figures.
The expert community believes that the biggest driver of consumer inflation boils down to gasoline prices. As the U.S. Dollar has retraced a bit while being still strong, this is believed to be backing the Core CPI dynamics on tis way up to the 2% inflation target. At the same time, higher household income is also contributing to higher consumer prices in the USA, Masterforex-V Academy experts say.
FOREX
Masterforex-V Academy reports that the U.S. Dollar keeps on strengthening against other major currencies and is currently trading around 95,37. For now, the bearish move started at 100,6 is completed. The closest major levels of resistance are the tops of the external and internal descending MF sloping channels. On breaking below 91,88, the price will start wave C or a(C ).
