Breaking: US annual Core PCE inflation falls to 4.9% in April versus 4.9% expected
|- Core PCE inflation rose at a pace of 4.9% YoY in April, in line with expectations.
- MoM, prices were up 0.3%, also in line with forecasts.
- Markets didn't react to the data, which was broadly in line with expectations.
The annual pace of inflation in the US according to the Core PCE Price Index fell to 4.9% in April, in line with the median economist forecast for an inflation rate of 4.9%, according to newswire polling. That comes after the Core PCE Price Index had prices rising at a pace of 5.2% YoY in March. The MoM pace of inflation according to the index came in at 0.3% in April, also in line with the median economist forecast for an inflation rate of 0.3%, according to newswire polling.
According to the PCE Price Index, the YoY rate of price gain in April was 6.3%, down from 6.6% in March, while the MoM pace of price gain was 0.2%, down from 0.9% in March. Elsewhere, Personal Incomes rose at a pace of 0.4% MoM in April, a little below the expected gain of 0.5% and down from last month's 0.5% growth rate. Personal Spending, meanwhile, grew at a pace of 0.9% MoM, above the expected drop to 0.7% from a 1.4% growth rate in March.
Market Reaction
The broadly in line with expectations inflation data has not triggered much of a market reaction just yet.
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