US Dollar Price Report | Thursday, May 12, 2022:
Source: cnbc.com Dollar slips after CPI data as Fed expectations in check 4 minutes The dollar was lower on Wednesday after economic data showed inflation remained high but was unlikely to lead the Federal Reserve to shift to a more aggressive path of monetary policy. The consumer price index rose 0.3% last month, the smallest gain since August, the Labor Department said on Wednesday, versus the 1.2% month-to-month surge in the CPI in March, the largest advance since September 2005. On an annual basis, CPI climbed 8.3%, higher than the 8.1% estimate but below 8.5% the prior month. The data signaled inflation may have peaked but was unlikely to quickly cool and derail the Fed's current plans to tighten monetary policy. The dollar index , which had touched a four-session low of 103.37 ahead of the report, immediately strengthened to a session high of 104.13 following the data, just below the two-decade hi