Inflation, April and Trump
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India's unemployment rate among individuals aged 15 years and above stood at 5.1% in April, the country's ministry of statistics said in a statement on Thursday.
Trump's sweeping tariffs are economically damaging, raising costs for consumers and businesses, and risk triggering a global trade war and recession. The unpredictability and amateurish execution of these tariffs create unprecedented uncertainty, discouraging long-term investment and threatening equity valuations.
The CPI report was cooler than expected, although inflation is still higher than the Federal Reserve's 2% annual goal.
Thai consumer confidence dropped for a third straight month in April, hitting its lowest level in seven months due to concerns over U.S. tariffs and a slow domestic economic recovery, a survey showed on Thursday.
Canadians road tripping to the US declined even more in April, according to government data.The number of Canadian residents visiting the US by plane also declined, the data suggested.Canadians have been avoiding US travel in response to Trump's policies on tariffs and annexation.
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Inflation rose less than expected in April, as prices rose 2.3% over the year, down from 2.4% in March. Prices for gas and groceries fell, but housing and eating at restaurants got more expensive. Inflation was slightly milder than forecasters had expected, before consumers faced the full brunt of President Donald Trump's import taxes.
Tuesday's report could provide an early read on how Trump's duties will affect the prices Americans pay for necessities and other goods such as clothing, shoes, furniture and even groceries.
The Consumer Price Index jumped 2.3% in April from the year before, below March’s 2.4% increase, the Bureau of Labor Statistics said Tuesday.
The U.S. collected $7.6 billion more in customs duties in April than it did in March, the Treasury said Monday, as revenue from tariffs on imported goods ramped up sharply. Gross customs duties collected in April reached a monthly record of $16.