Inflation has slighted slightly due to concerns about the acceleration of President Donald Trump’s tariff plans, according to a Commerce Department report on Friday.
The personal consumption expenditure price index, the Fed’s preferred inflation measure, grew 0.3% in the month and was 2.5% in age.
In addition to food and energy, core PCE also grew 0.3% this month to 2.6% per year. Fed officials follow core measures more closely to better measure long-term trends.
These figures are consistent with Dow Jones consensus estimates and may temporarily put central bank interest rates on hold.
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