, Columnist
The Inflation Battle Is Far From Over
Services price gains all but rule out rate cuts in the near term.
Groceries chill out.
Photographer: Frederic J. Brown/AFP/Getty Images
This article is for subscribers only.
To get John Authers’ newsletter delivered directly to your inbox, sign up here.
There was white smoke over the Bureau of Labor Statistics, sort of, on Wednesday morning. The key measures of consumer price inflation for April confirmed expectations for a slight decline, and alleviated growing anxiety over a possible reacceleration. Risk assets across the world spent the rest of the day exhaling deeply.