by Simon Moore
Forbes
April’s Consumer Price Index inflation report, scheduled for release on May 13, should be another relatively muted inflation reading according to nowcasts. That may support an interest rate cut in June. However, tariffs remain a wildcard.
Nowcast Forecasts For Inflation
Nowcasts project broadly 0.2% monthly inflation for the month of April, according to Cleveland Federal Reserve models. That forecast is broadly consistent for both headline and core inflation, and for the CPI and Personal Consumption Expenditure inflation readings. It translates to annualized inflation of approximately 2.5% or a little above the Federal Open Market Committee’s 2% annual inflation target.