Some signs of “firming inflation pressures” from US PCE report

Summary: US Fed’s favoured inflation measure up in March; above market expectations; annual rate accelerates; some signs of “firming inflation pressures”; long-term Treasury bond yields hardly move.   One of the US Fed’s favoured measures of inflation is the change in the core personal consumption expenditures (PCE) price index. After hitting the Fed’s target at the time of 2.0% in mid-2018, the annual rate then hovered in a range between...

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