March 30, 2024Business Desk

US inflation moderates, consumer spending supports economy

The US prices experienced a moderation in February, with notable deceleration observed in service costs outside of housing and energy.

Source: Pexels

While the Personal Consumption Expenditures (PCE) price index rose by 0.3% in February, data for January was revised upwards to show a 0.4% increase.

Source: Pexels

However, some elements of stickiness persist, with core inflation rising at a 3.5% annualised rate over the past three months.

Source: Pexels

With income at the disposal of households declining slightly and the savings rate dropping to 3.6%, the lowest level since December 2022.

Source: Pexels