The U.S. Bureau of Economic Analysis released its Personal Consumption Expenditure Index, a key marker of inflation, which showed an increase of 0.3% last month.
Since inflation nearly always rises, what economists look for is not whether or not it rose, but how quickly it rose. These latest numbers came in as experts expected.
“This was as expected, consistent with a very gradual slowing, and ~2.5% underlying inflation,” Harvard economic professor and former advisor to President Barack Obama, Jason Furman wrote on X.