Federal inflation scale showed the slowdown in March

Federal Reserve Favorite inflation scale It showed that price growth slowed in March, as inflation is closer to the target rate of the central bank.

The Ministry of Commerce stated on Wednesday that Personal consumption expenses (PCE) The index was fixed compared to the previous month and grew by 2.3 % on an annual basis. These numbers were largely in line with the estimates of Economists included in LSEG, which expected that the growth of the flat monthly price and annual inflation would be 2.2 %.

Core PCE, which excludes food and volatile energy, was also flat for a month and grows 2.6 % on an annual basis. Economists predicted LSEG with a simple monthly increase of 0.1 %, while their annual estimate was in line with the report.

Federal reserve policymakers focus on the main number of PCE as they try to slow the pace of prices to their 2 % goal, although they look at the basic data as a better indicator of inflation. The main title PCE fell from 2.5 % in February, while Core PCE also fell from 2.8 %.

This is a developing story. Please check again for updates.