Romanian inflation remained unchanged last month as the gravest political crisis since the collapse of communism pushed the leu to a record low which will likely intensify price pressure and complicate the central bank’s wait-and-see approach to monetary policy in the coming month.

Jefferson said he regarded the labor market as still "solid," and felt that the slight contraction in U.S. economic output over the first three months of the year was distorted by import data that overstated the degree to which the economy was slowing.

Inflation was relatively flat as President Donald Trump's sweeping tariffs went into effect in April, with lower grocery prices helping keep overall costs in check. Monthly inflation increased just 0.

Inflation retreated again in April on the back of lower prices for consumer staples like groceries and gasoline, and other items such as used cars and clothing. The consumer price index, a key inflation gauge, rose 2.3% in April from 12 months earlier, down from 2.4% in March, the Bureau of Labor Statistics reported Tuesday.

The U.S. Federal Reserve has adopted a wait-and-see stance on the economic fallout from Trump's tariff campaign before cutting interest rates again. Traders currently price in about 50 basis points of rate reductions between now and the end of the year, according to LSEG data, with the next quarter-point cut seen in September.

Chicago Fed chief Austan Goolsbee called the April inflation report 'comforting' but said he needs to see several more as officials consider rate cuts

For the quarter, Fidelity Select Consumer Discretionary Portfolio returned -13.89%, slightly underperforming the MSCI U.S. IMI Consumer Discretionary 25/50 Index.

Live Updates Live Coverage Updates appear automatically as they are published. S&P 500 Upward Revision 10:45 am by Gerelyn Terzo The S&P 500 full-year 2025 target revisions are rolling in. Most recently,

Because it's based on third-quarter inflation, it's impossible to predict the 2026 COLA with any degree of accuracy. Because of the ongoing tariff back-and-forth, as well as a generally slowing U.S. economy, the inflation rate on the back end of the year is more uncertain than it usually is.