U.S. January PCE Price Index Rises 2.8% Year-on-Year, Below Expectations

The U.S. Department of Commerce announced on March 13 (local time) that the Personal Consumption Expenditures (PCE) price index rose 2.8% in January compared to the same month of the previous year.

A customer is searching for prices at a store in Grand Central Station, New York City, USA. The Asia Business Daily Database

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This figure is below the analyst consensus of 2.9% compiled by Dow Jones.

On a month-on-month basis, the index increased by 0.3%, in line with expert expectations. The core PCE price index, which excludes energy and food, rose 3.1% year-on-year and 0.4% from the previous month, both matching analyst forecasts.

The PCE price index is a measure of the prices paid by U.S. residents when purchasing goods and services.

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