Recent economic indicators point to a continuing recovery from the instability of last summer when the effects of the COVID-19 pandemic led to an inflationary spike in the US economy. April’s inflation report delivered the latest indication that this trend is continuing, with a 4.9% year-on-year growth in prices.
For economists and mortgage industry experts, this is an encouraging sign that recovery is taking shape. However, the relatively high rate of inflation is still cause for cautious optimism. The target rate set by the Federal Reserve is 2.0%, and while the 4.9% year-on-year growth is not cause for alarm, it suggests that prices may remain volatile in the coming months.
Key Takeaways:
• Inflation was up 4.9% year over year in April, a sign of recovery in the US economy.
• The rate of inflation remains above the Federal Reserve’s 2.0% target, raising concerns that prices may remain volatile in the coming months.
• Mortgage industry experts have cautiously welcomed the news, with economists noting that continued recovery is taking shape.
You can read this full article at: https://www.housingwire.com/articles/april-data-suggests-were-close-to-peak-rent-inflation/(subscription required)
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