Business, Finance & Tech
Inflation Ticks Up in April, Keeping Pressure on the Fed
Prices rose faster than expected in April, according to new data from the Commerce Department, and the numbers suggest the Federal Reserve will hold off on cutting interest rates for now.
The Personal Consumption Expenditures price index, which is the Fed's preferred measure of inflation, climbed 0.4% in April alone, pushing the annual inflation rate to 3.8%. Excluding food and energy, core inflation rose 0.2% for the month and 3.3% over the past year. The Fed watches core prices closely because they strip out volatile costs like gas and groceries, making them a steadier read on where inflation is actually heading.
Gas prices were a big driver in April, jumping 5.5% for the month.
The data makes it unlikely the Fed will lower interest rates anytime soon. Higher interest rates are meant to cool inflation, but they also make borrowing more expensive for everyday Americans, from home loans to credit cards. Until inflation shows a clearer downward trend, rate relief appears to be on hold.
By: NBC Palm Springs
May 28, 2026
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