by Simon Moore
Forbes
The next Consumer Price Index release for April 2024 is expected to continue the pattern of relatively higher inflation as seen so far this year. If so, it’s likely to provide support for the Federal Reserve holding back on interest rate cuts until July or later.
Release Timing
On May 15 the U.S. Bureau of Labor Statistics will release CPI data for the month of April at 8:30 a.m. ET. This will be the first of two CPI releases before the next Federal Open Market Committee meeting on June 12. However, that subsequent CPI release will come on the morning of the FOMC’s decision day. Due to lack of progress on disinflation so far in 2024, the FOMC isn’t expected to cut interest rates until July at the earliest, and quite possibly later.