Inflation ticked up last month to 32 But steady monthly readings on underlying price pressures could deter the Federal Reserve from raising rates

Inflation increased to 3.2% last month, which may cause concern for the Federal Reserve. However, steady monthly readings on underlying price pressures could potentially discourage the central bank from raising interest rates. This suggests that the overall inflationary pressure may not be sustained and could be attributed to temporary factors. Consequently, the Federal Reserve may prefer to wait for more consistent data before making any decisions regarding interest rate hikes.