US inflation steady in April as PCE matches forecasts.
US inflation held broadly in line with expectations in April, with the Federal Reserve's preferred gauge showing little change in underlying price pressures, even as household spending continued to rise.
Source: Sharecast
According to the Bureau of Economic Analysis, the personal consumption expenditures price index increased 0.4% on the month and 3.8% year‑on‑year, matching forecasts, while core PCE, which strips out volatile food and energy costs, rose 0.2% on the month and 3.3% annually.
Personal income was broadly flat, edging down by less than $100m, while disposable personal income slipped 0.1%, or $19.9bn. Personal consumption expenditures rose by $111.1bn, a 0.5% increase, driven by higher spending on both services and goods. Real PCE was up 0.1%.
Personal outlays climbed $114bn, and the saving rate eased to 2.6%, with total savings at $611.7bn.
Reporting by Iain Gilbert at Sharecast.com
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