Key Fed inflation gauge rose 2.8% annually in February, as expected
Source: CNBC
Published Fri, Mar 29 2024 8:32 AM EDT Updated 2 Min Ago
Inflation rose in line with expectations in February, likely keeping the Federal Reserve on hold before it can start considering interest rate cuts, according to a measure the central bank considers its more important barometer.
The personal consumption expenditures price index excluding food and energy increased 2.8% on a 12-month basis and was up 0.3% from a month ago, the Commerce Department reported Friday.. Both numbers matched the Dow Jones estimates.
Including volatile food and energy costs, the headline PCE reading showed a 0.3% increase for the month and 2.5% at the 12-month rate, compared to estimates for 0.4% and 2.5%. Both the stock and bond markets were closed in observance of the Good Friday holiday.
While the Fed looks at both measures when making policy, it considers core to be a better gauge of long-term inflation pressures. The Fed targets 2% annual inflation; core PCE inflation hasnt been below that level in three years.
Read more: https://www.cnbc.com/2024/03/29/pce-inflation-report-february-2024-key-fed-inflation-gauge-rose-2point8percent-annually-as-expected.html
Article updated.
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Published Fri, Mar 29 2024 8:32 AM EDT Updated 4 Min Ago
Inflation rose in line with expectations in February, likely keeping the Federal Reserve on hold before it can start considering interest rate cuts, according to a measure the central bank considers its more important barometer.
The personal consumption expenditures price index excluding food and energy increased 2.8% on a 12-month basis and was up 0.3% from a month ago. Both numbers matched the Dow Jones estimates.
Including volatile food and energy costs, the headline PCE reading was 0.3% for the month and 2.5% at the 12-month rate, compared to estimates for 0.4% and 2.5%.
Both the stock and bond markets were closed in observance of the Good Friday holiday.
This is breaking news. Please check back here for updates.
Published Fri, Mar 29 2024 8:32 AM EDT Updated 1 Min Ago
Inflation rose in line with expectations in February, likely keeping the Federal Reserve on hold before it can start considering interest rate cuts, according to a measure the central bank considers its more important barometer.
The personal consumption expenditures price index excluding food and energy increased 2.8% on a 12-month basis and was up 0.3% from a month ago. Both numbers matched the Dow Jones estimates.
Including volatile food and energy costs, the headline PCE reading was 0.3% for the month and 2.5% at the 12-month rate, compared to estimates for 0.4% and 2.5%.
This is breaking news. Please check back here for updates.
Original article -
Published Fri, Mar 29 20248:32 AM EDT
The core personal consumption expenditures price index was expected to increase 0.3% in February, according to the Dow Jones consensus estimate.
This is breaking news. Please check back here for updates.