Price growth and consumer spending were hotter than expected in April, according to data released Friday by the Commerce Department, as the U.S. economy continued to show strength in the face of 10 straight interest rate hikes by the Federal Reserve. Consumer prices rose 0.4 percent in April, according to the personal consumption expenditures (PCE) price index, rising to a 4.4-percent annual rate. Analysts had been expecting a bump in the road for April, predicting PCE to rise to 4.3 percent annually from the 4.2-percent rate recorded in March. Taking out the particularly volatile categories of food and energy, the PCE price index rose by an even higher 4.7 percent annually. But
Hence then, the article about spending boom fuels surprise april inflation jump was published today ( ) and is available onThe Hill ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Spending boom fuels surprise April inflation jump )