Business & Economy · 23 views
Core inflation hit an annual rate of 3.3% in April, as expected, Fed’s preferred gauge shows
The PCE price index for April was expected to show an annual inflation rate of 3.8% for all items and 3.3% for core.
Summary
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%.
AI summaries can be wrong sometimes—always verify important details using the source article.
How AI & Automation are usedMore from Business & Economy
Continue reading recent Business & Economy coverage
- The traditional paths to building wealth are becoming less accessible for young AmericansContinue reading
- Dow drops 500 points to start shortened week as oil prices climb: Live updatesContinue reading
- ‘Poverty doesn’t have to be my reality’: I thought I’d have to rely on Social Security. Then I taught myself how to invest.Continue reading
- The Economic Fallout From a Potential Return to $100 OilContinue reading
Support HappeningNow
Independent AI-powered news analysis is reader-supported. Your contribution helps cover infrastructure, summaries, and continued platform development.
Support HappeningNow