U.S. January PCE Price Index Rises 2.8% Year-on-Year, Below Expectations
Up 0.3% from the Previous Month
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
View original imageThis 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.
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The PCE price index is a measure of the prices paid by U.S. residents when purchasing goods and services.
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