PCE price index in US annually rises 6.3% in April

By Ovunc Kutlu

ANKARA (AA) - Personal consumption expenditures (PCE) price index, the US Federal Reserve's preferred and most reliable inflation indicator, annually increased 6.3% in April, according to the latest data released on Friday.

The PCE price index annually rose 6.6% in March, the Commerce Department’s Bureau of Economic Analysis report showed.

On a monthly basis, it gained 0.2% in April, after increasing 0.9% in March.

Core PCE price index, excluding food and energy, annually rose 4.9% in April, after gaining 5.2% in March.

On a monthly basis, core PCE price index increased 0.3% in both March and April.

Last month, personal income and spending in the US also rose, according to the report.

Personal income increased $89.3 billion, or 0.4%, in April, while personal consumption expenditures rose $152.3 billion, or 0.9%, compared to the previous month.

In March, they gained 0.5% and 1.4%, respectively, compared to the month before.