Fed’s Core Inflation Gauge Posts Biggest Sequential Gain in Year
Construction at the site of the Bellwether District in Philadelphia, Pennsylvania, US.
Construction at the site of the Bellwether District in Philadelphia, Pennsylvania, US.Photographer: Rachel Wisniewski/Bloomberg
By Augusta Saraiva
March 29, 2024 at 8:34 PM GMT+8
Updated on March 29, 2024 at 8:41 PM GMT+8
The Federal Reserve’s preferred gauge of underlying inflation cooled last month after an even bigger January increase than initially reported.
The so-called core personal consumption expenditures price index, which strips out the volatile food and energy components, increased 0.3% from the prior month, data out Friday showed. That followed a 0.5% reading in January, marking the biggest back-to-back gain in a year. From a year ago, it advanced 2.8%.
Construction at the site of the Bellwether District in Philadelphia, Pennsylvania, US.
Construction at the site of the Bellwether District in Philadelphia, Pennsylvania, US.Photographer: Rachel Wisniewski/Bloomberg
By Augusta Saraiva
March 29, 2024 at 8:34 PM GMT+8
Updated on March 29, 2024 at 8:41 PM GMT+8
The Federal Reserve’s preferred gauge of underlying inflation cooled last month after an even bigger January increase than initially reported.
The so-called core personal consumption expenditures price index, which strips out the volatile food and energy components, increased 0.3% from the prior month, data out Friday showed. That followed a 0.5% reading in January, marking the biggest back-to-back gain in a year. From a year ago, it advanced 2.8%.
