In the United States (USA), the annual inflation rate was 4.9 percent and the monthly inflation rate was 0.4 percent.
The USA, which has not been on the agenda for the last two years with its effects on the global economy, wants to reduce the inflation rates in the country and increase the strength of the US dollar. In this context, the USA continues a long-term interest rate increase model. However, the banking crisis and recession concerns in the country brought forward the USA’s lowering gear in the interest rate hike. In this context, the USA had increased interest rates by 25 basis points at the beginning of the month.
According to the inflation data immediately following the interest rate decision, it was announced that annual inflation in the USA in April 2023 was at the level of 4.9 percent.
US April 2023 Inflation Data
The United States (USA) announced April 2023 inflation rates, which crypto investors follow closely. While annual inflation in the USA was 4.9 percent in April, the monthly inflation rate was 0.4 percent.
Last month’s inflation data in the USA were announced as 5 percent annually and 0.1 percent monthly. These data led to some relief in the global economy and the cryptocurrency market. However, the Fed drew attention by saying that the war on inflation is not over yet and that the rate hike will continue.
With the effect of the 25 basis point interest rate hike that followed, inflation expectations for April 2023 were shaped. Expectations were that it would reach 5 percent annually, while it would rise to 0.4 percent monthly.
These announced inflation rates will also shed light on the Fed’s interest rate decisions in the coming periods. Fed Chairman Jerome Powell said that the market would be followed for further decisions.
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