U.S. PCE in January Rises to Highest Level in Nearly 40 Years

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.

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