PCE Price Index

Highest reading in nearly 40 years, hefty increases in energy and food

Trading Economics/Staff/3-31-2022

“The personal consumption expenditure price index in the United States rose by 6.4% year-on-year in February of 2022, quickening from a downwardly revised 6.1% increase in January, reflecting steeper increases in prices of goods (9.6% vs 8.8% in January), while services rose at the same pace as in January (4.6%). Energy prices increased 25.7% while food prices were up 8.0%. Annual core PCE inflation which is Fed’s preferred measure of price changes rose 5.4% from a year ago, the highest since April of 1983 and slightly below market expectations of 5.5%, signaling persistent inflationary pressures.”

PCE Price Index
(%, year over year)

USAGOLD note: Keep in mind that these readings were logged before Russia’s invasion of Ukraine.