The Fed's favorite inflation measure cooled again in March | CNN Business

  • 📰 CNN
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 95%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The Federal Reserve’s favorite inflation measure cooled further in March, a sign that the central bank’s massive rate-hike campaign is taking hold

, according to new data released Friday by the Commerce Department. The Personal Consumption Expenditures price index rose 4.2% for the 12 months ended in March, down from an upwardly revised 5.1% in February. The closely watched core PCE index, where the more volatile components of food and energy are excluded, trended down as well — albeit far more moderately. The core PCE price index was up 4.6% for the year, a slight easing from the 4.7% growth rate notched in February.

On a monthly basis, the headline and core indexes grew 0.1% and 0.3%, respectively. In the month prior, both headline and core PCE indexes ticked up 0.3%. Economists were expecting the core PCE index to rise 0.3% from the month before and 4.5% for the 12 months ended in March, according to consensus estimates on Refinitiv. Consumer spending was flat in March, tailing off considerably from a January splurge. Economists expected spending to decline by 0.1% on a monthly basis.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines