The US core PCE price index for April was 2.8% year-on-year

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The US announced that the core PCE price index rose by 2.8% year-on-year in April, in line with expectations and the previous value of 2.80%. The Fed's adjustment of its preferred inflation indicator in April was in line with expectations, confirming the lack of progress in controlling price growth in early 2024. The US Bureau of Economic Analysis reported on Friday that the personal consumption expenditure price index rose by 0.3% in April as expected, and rose by 0.3% and 0.3% in March and February, respectively. The overall personal consumption expenditure price index changed by 2.7% year-on-year. The Fed's annual inflation target is 2%.

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