WASHINGTON – US inflation tracked sideways in April and consumer spending weakened, mixed signals for the Federal Reserve that provided little clarity on whether the central bank will be able to begin cutting US interest rates in September.
The personal consumption expenditures price index increased 0.3 per cent last month, the Commerce Department's Bureau of Economic Analysis said on Friday, matching the unrevised gain in March. Consumer spending, which accounts for more than two-thirds of US economic activity, increased by 0.2pc in April after a downwardly revised 0.7pc rise in March. Revised gross domestic product data released on Thursday showed consumer spending moderating to a 2.0pc pace in the first quarter from the brisk 3.3pc pace in the October-December period.
Goods prices increased 0.2pc in April after edging up 0.1pc in the prior month, the PCE report showed. Services prices rose 0.3pc, down from 0.4pc in March. Housing and utilities remained the largest contributors to last month's increase. Energy prices rose 1.2pc and food prices decreased 0.2pc. Stripping out the volatile food and energy components, the PCE price index increased 0.2pc in April after rising 0.3pc in March. Core inflation increased 2.8pc on a year-on-year basis in April, matching March's advance.
Consumer Spending US Interest Rates Federal Reserve Personal Consumption Expenditures PCE Price Index Personal Spending Energy Prices Food Prices
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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