US Core PCE inflation rises to 4.7% vs. 4.6% expected

The change in the Personal Consumption Expenditures (PCE) Price Index in the United States increased to 4.4% on an annual basis in April, up from 4.2% in March, according to the US Bureau of Economic Analysis on Friday. This number was higher than the market’s forecast of 3.9%.

The annual Core PCE Price Index, the Federal Reserve’s preferred measure of inflation, increased to 4.7% from 4.6% in the same period, above experts’ expectations of 4.6%. Core PCE inflation and PCE inflation both climbed 0.4% month on month.

Personal income increased 0.4% on a monthly basis, while personal spending increased 0.8%, according to the data.