US Fed’s preferred inflation gauge rose by 3.8% in April

The US Federal Reserve’s preferred inflation measure rose in April by its highest year-on-year rate since 2023, government data showed on Thursday, as the economic fallout of President Donald Trump’s Iran war hits Americans.

The personal consumption expenditures index jumped 3.8 percent from a year ago, the Commerce Department said, up from 3.5 percent in March.

The new data was in line with the expectations of economists polled by Dow Jones Newswires and the Wall Street Journal.

Core PCE inflation, which strips out volatile food and energy prices, rose by 3.3 percent, the data showed.

AFP

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PidomNigeria.

Contact: [email protected]