PCE inflation holds steady at 3.8% annually in April, core rate at 3.3% as expected
By
Jeff Cox
3d ago· 1 min readenNews
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Summary
The Personal Consumption Expenditures (PCE) price index for April showed inflation running at an annual rate of 3.8% overall and 3.3% for core (excluding food and energy), matching economist expectations. Monthly increases were 0.4% for all items and 0.2% for core. The data suggests the Federal Reserve is likely to maintain its cautious stance and keep interest rates on hold until inflation subsides further.
Key quotes
· 3 pulledInflation continued to hit consumer wallets in April, likely keeping the Federal Reserve on the sidelines until the current wave subsides, fresh pricing data released Thursday showed.
The personal consumption expenditures price index increased a seasonally adjusted 0.4% for the month, putting the 12-month inflation rate at 3.8%, the Commerce Department reported.
Excluding food and energy, core prices rose 0.2% for the month and 3.3% for the year, against estimates of 0.3% and 3.3%.
The PCE price index for April was expected to show an annual inflation rate of 3.8% for all items and 3.3% for core.
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