US Annual Core PCE Inflation Jumps to 3.1% in April

Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 0.6% on a monthly basis in April.

This reading came in higher than the market forecast of 0.2%. On a yearly basis, the PCE Price Index rose to 3.6% from 2.4%, compared to analysts’ estimate of 2.2%.

The PCE Price Index rose to 1.6% Y-o-Y as expected.