April CPI rose 4.9% over the last 12 months vs the expected 5%

Inflation Cooled to 4.9% in April
This marked the Tenth straight month of cooling in annual inflation since peaked at 9.1% in June 2022.
Fed said last week that it would assess incoming data ahead of its next meeting in June and signaled it could pause its hikes.
It takes 9-12 months for rate hikes to be felt and 12-18 months for the maximum effect.
The CPI report, interest rate hikes, house prices and rents, wage growth, job openings, unemployment rate, international conflicts, and trade wars all play a significant role in guiding the market's macroenvironment.
A study by credit agency TransUnion has shown that inflation pushes borrowers with low FICO scores to default. Inflation under control is good for lending institutions.
"In April, the Consumer Price Index for All Urban Consumers increased 0.4 percent, seasonally adjusted, and rose 4.9 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.4 percent in April (SA); up 5.5 percent over the year (NSA)."