US 'Inflation Indicator' February PCE Up 6.4%... Largest Increase in 40 Years
[Asia Economy New York=Special Correspondent Joselgina] The inflation indicator preferred by the U.S. Federal Reserve (Fed) remained at its highest level in nearly 40 years last month.
The U.S. Department of Commerce released the February U.S. Personal Consumption Expenditures (PCE) price index on the 31st of last month (local time), showing a 6.4% increase compared to the same period last year. This is the largest increase since January 1982 and is higher than the previous month's rise.
Excluding the volatile food and energy sectors, the core PCE for February rose 5.4% year-on-year, marking the highest increase since April 1983.
Considering that the core PCE is the inflation indicator most preferred by the Fed when monitoring inflation trends, hawkish opinions advocating for an accelerated tightening stance are expected to gain more weight.
Hot Picks Today
At President Lee's Call to "Give Enough to Shock," Whistleblower Rewards Become a Real Lottery
- If They Fail Next Year, Bonus Drops to 97 Million Won... A Closer Look at Samsung Electronics DS Division’s 600M vs 460M vs 160M Performance Bonuses
- Lived as Family for Over 30 Years... Daughter-in-Law Cast Aside After Husband's Death
- "If Both Spouses Work There, How Much Would They Make?" "They Earn More Than Me, and I'm a Doctor"... Envy Erupts Over Samsung Electronics' Bonus
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
Due to rising inflation, the growth in consumer spending among Americans has slowed. February consumer spending increased by only 0.2% compared to the previous month. This is far below both the previous month's 2.7% and the market forecast of 0.5%.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
