US inflation accelerated in April: Commerce department gauge

The US inflation measure most closely watched by the Federal Reserve accelerated in April, official figures showed Friday, reversing a recent slowdown and raising the chance of another interest rate hike in June.Fed Chair Jerome Powell has said the US central bank is taking a "data-dependent approach" to its next decision, where it will mull if another rate hike is needed to bring inflation back down to its long-term target of two percent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/HRQK83e