Fed’s favoured inflation gauge falls
PCE inflation reading for April 2022 was down from March
A key US inflation measure fell in April, the Bureau of Economic Analysis reported on May 27. Year-on-year personal consumption expenditure inflation came to 6.3% in April, down from 6.6%.
Excluding food and energy prices, PCE inflation was 4.9%, down from 5.2% in March. This is the first time in 2022 that core PCE inflation has fallen below 5%.
Energy prices increased by more than 30% in the year up to April, and food prices by 10%.
The Federal Reserve Bank of Dallas maintains its own
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