In January, the Federal Reserve's preferred inflation gauge, the core Personal Consumption Expenditures (PCE) index, saw its slowest annual increase since March 2021, meeting expectations from Wall Street analysts. Concurrently, monthly prices experienced their swiftest rise in a year.
The core PCE index, which excludes food and energy costs and is closely monitored by the Federal Reserve, climbed by 2.8% over the previous year in January, marking the most sluggish annual increase since March 2021's 2.2% uptick. Compared to the preceding month, core PCE surged by 0.4%, representing the most significant increase since January 2023, an upswing from December's 0.1% rise.
The headline PCE, encompassing all categories, recorded a 2.4% increase over the previous year, indicating a deceleration from the 2.6% figure reported last month.
As reported by Yahoo Finance: Oxford Economics' Deputy Chief US Economist, Michael Pearce, highlighted that Fed officials are not ne ...
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