PCE Inflation Surges Further Away From Fed's Target, Now Nearly Double The Fed's Target, And 5+ Years Above Target
PCE inflation has surged significantly, moving further away from the Federal Reserve's target. The all-items PCE price index increased by 0.40% in April, following a 0.66% rise in March. This marks a continued trend of inflation being nearly double the Fed's target for over five years.
- ▪The all-items PCE price index jumped by 0.40% in April from March, which translates to a 4.9% annualized rate.
- ▪In March, the index had already spiked by 0.66%, equating to an 8.3% annualized increase.
- ▪Inflation has remained above the Federal Reserve's target for more than five years.
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