US inflation shows limited decline in Q1

The personal consumption expenditures price index reading in the United States rose by 3.3% in the first quarter of 2024, versus a slightly larger rise of 3.4%, previous.

The personal consumption expenditures index excluding food and energy prices in the United States recorded an increase of 3.6% in the first quarter of 2024, compared to the previous reading, which recorded an increase to slightly higher levels of 3.7%.

The annual reading of gross domestic product in the United States recorded an increase of 1.3% in the first quarter of this year, which is less than the previous reading of 1.6%.

Weekly jobless claims in the United States witnessed an increase of 219,000 in the week ending May 24, versus the previous week at 216,000 claims, which was higher than market expectations that indicated 218,000 claims.

The total beneficiaries of US unemployment benefits also rose to 1.791 million, versus o the previous reading at 1.787 million, which was lower than market expectations that indicated 1.8000 million.