• Fri. Apr 19th, 2024

US experienced a 0.3% PCE inflation in February, up by 2.5% over the past year

BySamantha Johnson

Mar 29, 2024
US experienced a 0.3% PCE inflation in February, up by 2.5% over the past year

PCE inflation, including its ‘core’ component, in the United States in February is giving operators hope that the Fed can proceed swiftly on the interest rate front. The Eurozone is also showing signs that the ECB may move towards a rate cut, with French inflation falling faster than expected in March and reaching the lowest level since July 2021. In Italy, price growth was also lower than expected. Next week, we will see the trend of inflation in the Eurozone slightly slowing down to 2.5%.

In the USA, PCE inflation, considered a key indicator of prices by the Fed, increased in line with expectations in February. The price index for personal consumption expenditure, excluding food and energy, rose 2.8% on a 12-month basis and 0.3% compared to the previous month. Including food and energy costs, the headline PCE reading was 0.3% for the month and 2.5% over 12 months. Services prices increased by 3.8% while goods prices decreased by 0.2%. Food prices rose by 1.3% and energy prices fell by 2.3%. Personal incomes in the USA also decreased on a monthly basis, by 0.3%.

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By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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