Key inflation gauge rises 3.1% in April as economists warn of overheating
(Worthy News) – An inflation indicator rose from a yearly pace of 3.1% in April, topping the expectations of forecasters and adding to concerns about overheating.
The metric was released on Friday by the Commerce Department. The personal consumption expenditures index, excluding volatile food and energy costs, had been predicted to rise by 2.9%, which is still a large increase from March, when it increased by 1.9%.
For just the month of April, core PCE rose by 0.7%, slightly ahead of expectations and nearly double the preceding month. By comparison, in January and February, the indicator rose by only 0.2% and 0.1%, respectively. When including food and energy prices, the PCE rose 3.6% year over year and 0.6% from March. [ Source: Washington Examiner (Read More…) ]
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