US consumer spending surged last month amid continued inflationary pressure, adding to market fears the Federal Reserve could continue rising interest rates for some time.
The US Commerce Department said on Friday that the personal consumption expenditures price index, the Fed's preferred gauge of inflation, rose 5.4 percent in January from a year earlier.
The price index excluding food and energy increased 4.7 percent.
Both figures were up 0.1 percentage point from December, and higher than market expectations.
Other economic indicators announced earlier this month also suggest prices in the US are still rising.
The US Commerce Department said on Friday that the personal consumption expenditures price index, the Fed's preferred gauge of inflation, rose 5.4 percent in January from a year earlier.
The price index excluding food and energy increased 4.7 percent.
Both figures were up 0.1 percentage point from December, and higher than market expectations.
Other economic indicators announced earlier this month also suggest prices in the US are still rising.
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Summary
Increased consumer spending and higher-than-expected inflation rates reported in January, with a 5.4% rise in the US personal consumption expenditures price index and a 4.7% increase for the index excluding food and energy. These figures indicate sustained inflationary pressure, potentially
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ID: ae36ddfe-8dae-42f1-a5c7-e4248ec356b1
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230225_02/
Date: Feb. 25, 2023
Created: 2023/02/25 08:09
Updated: 2025/12/09 07:01
Last Read: 2023/02/25 08:12