PiCK

US core PCE in January rises 3.1% y/y, in line with market expectations

Source

Uk Jin

Summary

The US core PCE for January rose 3.1% year on year, matching market expectations.
January core PCE increased 0.4% month on month, in line with economists’ forecasts.
Core PCE is a key gauge the US central bank (Fed) consults ahead of policy deliberations, including decisions on the benchmark interest rate.

Forecast Trend Report by Period

The US core personal consumption expenditures (PCE) price index for January came in in line with market expectations.

According to data released on the 13th (local time) by the Bureau of Economic Analysis (BEA) under the US Department of Commerce, the US core PCE for January rose 3.1% from a year earlier, matching market forecasts.

It also increased 0.4% month on month, in line with economists’ expectations.

Core PCE excludes food and energy, which are highly volatile. It is regarded as a key indicator the US central bank (Fed) looks to ahead of policy deliberations, including decisions on the benchmark interest rate.