{"id":202,"date":"2026-05-28T13:46:34","date_gmt":"2026-05-28T13:46:34","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=202"},"modified":"2026-05-28T13:46:34","modified_gmt":"2026-05-28T13:46:34","slug":"inflation-hit-the-highest-level-in-almost-three-years-as-the-fed-releases-the-first-inflation-report-under-new-chair-kevin-warsh","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=202","title":{"rendered":"Inflation hit the highest level in almost three years as the Fed releases the first inflation report under new chair Kevin Warsh"},"content":{"rendered":"
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Inflation jumped to 3.8% in April compared with a year ago, the Commerce Department said Thursday, up from 3.5% in March and the highest since May 2023. On a monthly basis, prices rose 0.4%, down from the 0.7% jump in March.<\/p>\n

Read more Current price of oil as of May 28, 2026<\/a><\/p>\n

The report showed that prices have risen for many items in addition to gas, indicating that inflation could persist and pose problems for congressional Republicans in this year\u2019s midterm elections. Inflation is also notably above the Federal Reserve\u2019s target of 2%, which means Fed policymakers may decide to\u00a0forego any cuts\u00a0to their key short-term interest rate this year. Some officials have signaled that their next move could be a hike rather than a cut.<\/p>\n

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Excluding the volatile food and energy categories, core inflation rose to 3.3% in April from 3.2% the previous month. It is the highest core figure since November 2023. One positive sign in the report: Core prices rose just 0.2% in April from March.<\/p>\n

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Higher prices are also cutting into consumers\u2019 incomes, which were unchanged in April from March. Adjusted for inflation, incomes actually slipped 0.1% last month.<\/p>\n

Read more We gave our 5,000 employees a week to do nothing but learn AI. We learned the biggest blockers are human ones<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Inflation jumped to 3.8% in April, the highest since May 2023. 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