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The Fed’s preferred inflation measure rose 0.2% in April, as expected

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Inflation News

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The personal consumption expenditures price index for April was expected to show an inflation rate of 2.7% over the past 12 months.

Inflation rose about as expected in April, with markets on edge over when interest rates might start coming down, according to a measure released Friday that is followed closely by the Federal Reserve.

A 1.2% increase in energy prices helped push up the headline increase. Food prices posted a 0.2% decline on the month. "The PCE Price Index didn't show much progress on inflation, but it didn't show any backsliding, either. Based on the initial reaction in stock index futures, the market will see it mostly as a positive," said Chris Larkin, managing director of trading and investing for E-Trade Morgan Stanley.

 

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