PiCK
US April Core PCE Price Index Rises 3.3%, Matching Estimates
Summary
- The US said its April core PCE index rose 3.3%% from a year earlier, matching market estimates.
- The April core PCE index rose 0.2%% from the previous month, undershooting the market forecast (0.3%%) by 0.1 percentage point.
- The core PCE index is a key gauge the Federal Reserve (Fed) uses before considering policy moves including benchmark interest-rate decisions.
Forecast Trend Report by Period
The US core personal consumption expenditures price index matched market expectations in April.
The Commerce Department’s Bureau of Economic Analysis said May 28 that the headline PCE price index rose 3.8% in April from a year earlier, the fastest annual increase since May 2023, when it climbed 4.0%. The index rose 0.4% from the previous month.
The core PCE price index, which excludes food and energy, increased 3.3% from a year earlier. That matched economists’ median estimate in a Dow Jones survey.
On a monthly basis, the core index rose 0.2%, 0.1 percentage point below the market forecast of 0.3%.
The core PCE index measures prices paid by US residents for goods and services excluding food and energy. It is a key gauge the Federal Reserve watches before making policy decisions, including on benchmark interest rates.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
