US Core PCE Price Index Records Smallest Annual Increase Since March 2021

According to BlockBeats, the US core PCE (Personal Consumption Expenditures) price index for January recorded an annual increase of 2.8%, marking the smallest increase since March 2021. On a monthly basis, the core PCE price index for January registered a 0.4% increase, which is the largest increase since February 2023. The core PCE price index is a key indicator of inflation in the United States and is closely monitored by the Federal Reserve. The recent data suggests a mixed picture of inflationary pressures in the US economy, with the annual rate showing signs of moderation, while the monthly rate indicates a continued acceleration in price growth.