Core PCE Inflation At 3.2% In Mar., Highest Level Since 2023
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The personal consumption expenditures index report was released on Thursday morning and is unwelcome news for the economy.
According to the Cleveland Federal Reserve's Inflation Nowcasting model, May's core PCE, or Personal Consumption Expenditures, is seen rising 0.27% month-over-month, compared to the 0.26% rise estimated in April.
WASHINGTON, April 15 (Reuters) - High oil prices are likely to keep underlying inflation nearly a percentage point above the Federal Reserve's 2% target for the rest of this year, with the U.S. central bank likely needing to leave interest rates unchanged,
Over the past two years, the Federal Reserve has largely reigned in inflation. The Consumer Price Index (CPI) has moderated from 9.1% to 2.4%, putting the Fed’s 2% inflation target within reach. While it sounds like a victory, headline CPI numbers don ...