A key US price gauge topped forecasts for a third straight month on gains in rents and transportation costs, spurring concerns that inflation is becoming entrenched and likely further delaying Federal Reserve interest-rate cuts.
Quoteworthy: "Well, I do stand by my prediction that, before the year is out, there’ll be a rate cut" –— US President Joe Biden after higher-than-expected US inflation data put rest to hopes that the US Fed will start to cut rates in June
US inflation refuses to bend, fanning fears it will stick
