Data released moments ago by the US Bureau of Economic Analysis showed an increase in US personal income by $1.80 billion in April, or 0.4%. The PCE personal consumption expenditures index, the preferred indicator for measuring inflation for the US Federal Reserve, rose by 0.4% on a monthly basis. On the other hand, the main excluded index rose. of food and energy prices by 0.4% compared to 0.3%.
The annual index rose to 4.7% in April compared to 4.6% in the January reading, below expectations that indicated a rise of 4.9%. The main index excluding food and energy prices rose to 4.4% compared to 4.2% in the March reading.