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BREAKING! Latest Inflation Data Released by FED! What…
BREAKING! Latest Inflation Data Released by FED! How Did Bitcoin and the Dollar React?
The latest data on personal consumption expenditures in the USA has just been released.
Author:
Elif Azra Güven
28.06.2024 – 12:33
Update:
10 hours ago
0
Despite recent consecutive declines in Bitcoin, these declines are believed to be influenced by BTC sales from the German and US governments and miners.
Bitcoin is currently trading above $61,000, and the Personal Consumption Expenditures (PCE) data, which is closely monitored by the FED when making interest rate decisions and is considered a leading inflation indicator, has been announced.
The data released for personal consumption expenditures in May are as follows:
Core Personal Consumption Expenditures Price Index (Annual) Announced 2.6% – Expected 2.6% – Previous 2.8%
Core Personal Consumption Expenditures Price List (Monthly) Announced 0.1% – Expected 0.1% – Previous 0.2%
Personal Consumption Expenditures Price Index (Annual) Announced 2.6% – Expected 2.6% – Previous 2.7%
Personal Consumption Expenditures Price Index (Monthly) Announced 0.0% – Expected 0.0% – Previous 0.3%
How Did Bitcoin and the Dollar React Initially?
What is the Core Personal Consumption Expenditures Price Index? What Impact Does it Have on Prices?
The Core Personal Consumption Expenditures (PCE) measures the inflation rate experienced by consumers when purchasing goods and services excluding Food and Energy.
Currency traders consider the Core PCE Price List as the preferred consumer inflation indicator by the Reserve Bank.
PCE differs slightly from CPI as it only encompasses goods and services consumed and targeted separately. Food and Energy account for roughly 25% of the PCE, but their fluctuations can significantly impact the overall picture. Similar to the CPI, it reflects changes in prices of consumer goods and services. By excluding the volatile components, PCE provides a more accurate indicator of the inflationary trend. (investing.com)
*This is not investment advice.
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