2024-03-29 23:30:00 ET
Summary
- When inflation picked back up in January 2024, many commentators described it as more noise than signal.
- The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew at a continuously compounding annual rate of 4.0 percent in February.
- Core inflation, which excludes volatile food and energy prices, also remained elevated.
By William J. Luther
When inflation picked back up in January 2024, many commentators described it as more noise than signal. The latest data from the Bureau of Economic Analysis ((BEA)) casts doubt on that view....
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Inflation Remained Elevated In February