The US Federal Reserve’s preferred inflation measure rose in April by its highest year-on-year rate since 2023, government data showed on Thursday, as the economic fallout of President Donald Trump’s Iran war hits Americans.
The personal consumption expenditures index jumped 3.8 percent from a year ago, the Commerce Department said, up from 3.5 percent in March.
The new data was in line with the expectations of economists polled by Dow Jones Newswires and the Wall Street Journal. Related News Central banks must remain independent, says ex-IMF boss Lagarde N105bn cash returns to banks after February rate cut FMDQ debt market size hits N118.29tn
Core PCE inflation, which strips out volatile food and energy prices, rose by 3.3 percent, the data showed.
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