The Magazine for Asian Investors
The U.S. Commerce Department reported that the core personal consumption expenditures (PCE) price index, which excludes the food and energy category and serves as a gauge of inflation, rose 5.2% in January from a year earlier. This is the largest increase since April 1983.
On a monthly basis, the core PCE index rose by 0.5% in January.
The general PCE index, which includes the food and energy category, rose 6.1% in January from a year earlier. This is the strongest increase since February 1982.
On a monthly basis, the overall PCE index rose by 0.6% in January.
Orders for durable goods in the United States rose by 1.6% in January.
U.S. orders for durable goods, including aircraft, automobiles, and heavy machinery three years old or older, rose 1.6% in January, following a 1.2% gain in December.
Orders for durable goods were boosted by aircraft orders in January.
New orders for durable goods, i.e. capital goods excluding aircraft and weapons, rose by 0.9% in January after increasing by 0.4% in December.