Tuesday, May 30, 2023
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Core PCE up 0.3%, less than expected

by Euro Times
March 31, 2023
in Finance
Reading Time: 2 mins read
A A
0
Home Finance
Share on FacebookShare on Twitter


An inflation gauge the Federal Reserve follows closely rose slightly less than anticipated in February, providing some hope that interest rate hikes are helping ease price increases.

The personal consumption expenditures price index excluding food and energy increased 0.3% for the month, the Commerce Department reported Friday. That was below the 0.4% Dow Jones estimate and lower than the 0.5% January increase.

On a 12-month basis, core PCE increased 4.6%, a slight deceleration from the level in January.

Including food and energy, headline PCE increased 0.3% monthly and 5% annually, compared to 0.6% and 5.3% in January.

The softer than expected data came with monthly energy prices decreasing 0.4% while food prices rose 0.2%. Goods prices rose 0.2% while services increased 0.3%.

In other data from the report, personal income increased 0.3%, slightly above the 0.2% estimate. Consumer spending increased 0.2%, compared to the 0.3% estimate.

Stock market futures held higher following the report while longer-duration Treasury yields declined.

Market pricing Friday morning following the inflation report indicated a slight bias towards the Fed raising its benchmark rate another quarter percentage point in May.

The Fed’s own unofficial projections released last week pointed to perhaps one more increase this year and no reductions. However, traders expect cuts this year, with end-year pricing for the federal funds rate at 4.25%-4.5%, half a point below the current target range.

While inflation has ebbed in some areas, it has remained pernicious in others. Shelter costs in particular have risen sharply. Fed officials, though, are looking through that increase and expect rents to decelerate through the year.

Still, inflation is likely to remain well above the Fed’s 2% target into 2024, and officials have said they remain focused on bringing down prices despite the current bank turmoil.

Data released Thursday suggests that the problems in banking also may be at least under control. Borrowing through two emergency Fed lending programs decreased slightly last week, indicating that there has been no frantic liquidity dash for banks that may be undercapitalized.

This is breaking news. Please check back here for updates.



Source link

Tags: CoreExpectedPCE
Previous Post

Stoltenberg predicts when Sweden could join NATO — RT World News

Next Post

Crypto Exchanges Should Be Transparent About User Accounts: FatMan By CoinEdition

Related Posts

U.S. Crude Dips Below $70 Ahead of OPEC+ Meeting

by Euro Times
May 30, 2023
0

U.S. crude dipped below $70 a barrel for the first time in two weeks ahead of an OPEC+ meeting at...

Nvidia set to become first US chipmaker valued at over $1 trillion By Reuters

by Reuters
May 30, 2023
0

© Reuters. FILE PHOTO: The logo of NVIDIA as seen at its corporate headquarters in Santa Clara, California, in May...

IPCA Lab stock trades flat post-Q4 announcement; brokerages mixed

by Index Investing News
May 30, 2023
0

IPCA Laboratories share price NSE, IPCA Laboratories share price target: Shares of Ipca Laboratories edged lower on May 30, Tuesday, a...

GSEB HSC Exam 2023: When and where will Class 12 Arts and Commerce Results be announced? Here’s a step-by-step guide to all your questions

by FE Online
May 30, 2023
0

GSEB HSC 12th Board Result 2023: The Gujarat Board of Secondary and Higher Secondary Education are expected to announce the...

The Bankruptcy Caravan Is Now Arriving: Time to Pay for the Easy Money

by Doug French
May 30, 2023
0

The character Mike Campbell in Ernest Hemingway’s 1926 novel The Sun Also Rises was asked about his money troubles and...

Waller Offers Common Sense View on Financial Risks of Climate Change

by Bryan Cutsinger
May 29, 2023
0

At a recent conference in Spain, Federal Reserve Board Governor Christopher Waller said the risks associated with climate change do...

Next Post

Crypto Exchanges Should Be Transparent About User Accounts: FatMan By CoinEdition

Google introduces 'About this result' feature in 9 Indian languages to fight misinformation

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Market Anticipation Builds As Optimism Plans To Unlock $587M Worth Of OP Tokens

May 30, 2023

US and EU criticize Polish plans for law that could keep opposition from holding office

May 30, 2023

SAIL readying ₹1,00,000 cr capex plans

May 30, 2023

Bitcoin Outperforms Gold, Crude Oil; Bitcoin Bull Run Ahead?

May 30, 2023

JEPI Holders Should Consider Adding DXD To Avoid Worst-Case Scenario (NYSEARCA:DXD)

May 30, 2023

U.S. Crude Dips Below $70 Ahead of OPEC+ Meeting

May 30, 2023
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Market Anticipation Builds As Optimism Plans To Unlock $587M Worth Of OP Tokens

US and EU criticize Polish plans for law that could keep opposition from holding office

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In