PCE price index Mar - Consumption growth hits 1-year high
2024-04-26
Summary:
The Core PCE price index rose 2.8% in February year-over-year, matching expectations. Goods prices increased more than services, driving inflation.
PCE price index Mar
26/4/2024 (Fri)
Previous: 2.8% Forecast: 2.7%
Core PCE price index increased 2.8% in February from a year earlier, in line with expectations. The monthly rise in the price of goods outpaced that in the price of services which was the main driver of inflation.
Although recent economic data has pointed to a slowdown in consumer spending, the PCE data showed the opposite effect. Consumption accelerated by 0.8% last month, the fastest in over a year.
Central bankers including Powell have signalled that achieving 2% inflation will be a bumpy path. Investors anticipate the first rate hike will come in July.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Yen firms on increasing political certainty
Despite PM Shigeru Ishiba's coalition losing its majority in last month's election, the yen steadied after his re-election.
2024-11-12
Sterling Drifts Higher Against Euro on Policy Rate Bets
Sterling hit a two-year high against the euro on Monday, as investors bet the ECB would ease monetary policy faster than the BOE.
2024-11-11
Oil Market Yet to Reflect MAGA Influence
Trump's return may boost fossil fuels and affect oil prices, with trade wars, geopolitical tensions, and low demand adding pressure.
2024-11-08
