PCE inflation March 2024: Key Fed inflation measure rose 2.8%

  • by:
  • Source: CNBC
  • 04/26/2024
Inflation showed little signs of letting up in March, with a key barometer the Federal Reserve watches closely showing that price pressures remain elevated.

The personal consumption expenditures price index excluding food and energy increased 2.8% from a year ago in March, the same as in February, the Commerce Department reported Friday. That was above the 2.7% estimate from the Dow Jones consensus.

Including food and energy, the all-items PCE price gauge increased 2.7%, compared with the 2.6% estimate.
On a monthly basis, both measures increased 0.3%, as expected and equaling the increase from February.

Markets showed little reaction to the data, with Wall Street poised to open higher. Treasury yields fell, with the benchmark 10-year note at 4.67%, down about 0.4 percentage points on the session. Futures traders grew slightly more optimistic about two potential rate cuts this year, raising the probability to 44%, according to the CME Group’s FedWatch gauge.
woman checking grocery prices by Viki Mohamad is licensed under Unsplash unsplash.com

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