Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, rose to 0.5% in March from 0.2% in February and came in higher than the market expectation of 0.3%. On a yearly basis, the PCE Price Index jumped to 2.3% from 1.5%.
More importantly, the annual Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, arrived at 1.8% and matched analysts’ estimates.
Market reaction
This report doesn’t seem to be having a significant impact on the greenback’s performance against its rivals. As of writing, the US Dollar Index was up 0.28% on the day at 90.88.
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