Summary:
In March, the US core PCE price index remained at 2.8% year-on-year, showing solid consumer spending amid ongoing pressure.
PCE Price Index April
31/5/2024 (Fri)
Previous: 2.8% Forecast: 2.8%
Core PCE price index in the US increased 2.8% from a year ago in March, the same as in February, showing that price pressures remain elevated due to robust consumer spending.
On a 12-month basis, services prices are up 4% while goods have barely moved. Rents have remained sticky even as the supply of flats increased and independent measures showed a decline in demands.
With inflation still percolating two years after it soared to the highest level in more than 40 years, the Fed are watching the data even more intently to contemplate the next moves for monetary policy.
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