Inflation persisted in March, as revealed by the Federal Reserve's closely monitored personal consumption expenditures (PCE) price index. Excluding food and energy, the core PCE index rose by 2.8% year-over-year, surpassing the anticipated 2.7%, according to the Commerce Department. Including these volatile categories, the overall PCE index also exceeded expectations, climbing 2.7% compared to a forecasted 2.6%. Despite these figures indicating sustained inflationary pressure, market response was muted, with Treasury yields dipping slightly and Wall Street poised for a positive open.
Posted: 2024-04-26 09:34:04.000000