US PCE Price Index Rises 3.5% in April, Above Fed’s 2% Target for Record 60 Months
The US PCE Price Index rose 3.5% from a year earlier in April, the highest since June 2023, leaving inflation above the Federal Reserve’s 2% target for a record 60 straight months. In the same month, inflation-adjusted disposable personal income growth fell 1.1% from a year earlier.
The April figures show price pressures remaining elevated while income declined after adjusting for inflation. That left real disposable income weaker even as the PCE Price Index stayed well above the Fed’s goal.
From the sources (2 posts)
@globalmktobserv‼️US inflation has been above the Fed's 2% target for the longest streak on record: The PCE Price Index rose +3.5% YoY in April, the highest since June 2023, and has remained above the Fed's 2% target for 60 months. TAP IMAGE TO SEE FULL
@kevrgordonInflation-adjusted disposable personal income growth fell by 1.1% y/y in April. Rarely have we seen that kind of a decline outside of recessions