INA–Follow up
Official economic data released today showed that the US Personal Consumption Expenditures (PCE) price index (the main inflation indicator) accelerated in April, recording its largest jump in three years, primarily driven by rising gasoline prices.
The economic data, reviewed by the Iraqi News Agency (INA), indicated that "the annual PCE price index rose to 3.8 percent in April, up from 3.5 percent in March," noting that "this increase was entirely in line with the expectations of experts and economic analysts."
The data added that the core inflation rate—which excludes volatile energy and food prices—remained stable at 3.3 percent year-on-year in April, also within the expected range.
It is worth noting that this index is the preferred measure and primary document used by the Federal Reserve (the US central bank) to determine and guide monetary policy and the path of interest rates.
