Summary:
Core PCE price index increased 2.9% in December from a year earlier, cooling to an almost three-year low even with robust holiday spending.
PCE price index Jan
29/2/2024 (Thu)
Previous: 2.9% Forecast: 2.8%
Core PCE price index increased 2.9% in December from a year earlier, cooling to an almost three-year low even with robust holiday spending.
The report caps a year that saw inflation retreat at a much faster rate than the Fed and Wall Street economists anticipated. Some of that momentum is expected to moderate this year.
Even so, Fed officials have been cautious to declare victory on inflation and have said they want to see sustainable signs of cooling before lowering borrowing costs.
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