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US Core inflation hit an annual rate of 3.3% in April, as expected, Fed’s preferred gauge shows
Inflation continued to hit consumer wallets in April, likely keeping the Federal Reserve on the sidelines until the current wave subsides, fresh pricing data released Thursday showed. The personal consumption expenditures price index increased a seasonally adjusted 0.4% for the month, putting the 12-month inflation rate at 3.8%, the Commerce Department reported. Economists surveyed by Dow Jones had been looking for respective readings of 0.5% and 3.8%. Excluding food and energy, core prices rose 0.2% for the month and 3.3% for the year, against estimates of 0.3% and 3.3%. While the annual rates were in line with ... (full story)
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The Federal Reserve’s preferred inflation gauge surged to a three-year high in April, adding to growing concern at the central bank and on Wall Street over broadening price pressures. The Personal Consumption Expenditures Index rose 3.8% in April as the conflict in the Middle East pushed oil prices higher. That was in line with expectations and up from 3.5% ...
