Breaking: US PCE Core Inflation Comes In More Than Expected For April

Anvesh Reddy
May 26, 2023
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US PPI Data

Crypto Market News: The United States core personal consumption expenditures (PCE), which measures price rise across a range of consumer spending, was released on Friday by the Bureau of Economic Analysis. From the preceding month, the PCE price index for April 2023 increased 0.4 percent while the PCE price index excluding food and energy increased 4.7 percent from one year ago. Although the core PCE Index generally has an impact on the high risk assets like Bitcoin, the crypto market did not react much to the April inflation figures. Meanwhile, the market participants are looking forward to the likelihood of a debt ceiling deal later today.

Also Read: Binance Ceases Australian Dollar (AUD) Trading Pairs For Bitcoin And Other Crypto

More than expected rise in inflation in April could mean the US Federal Reserve having one more reason to its policy of monetary tightening, amid concerns of liquidity crunch in regional banks. The Core PCE inflation data is one of the significant metrics considered by the US central bank while taking the decision on raising interest rates. The next Fed meeting convened by the Federal Open Market Committee (FOMC) is scheduled for June 13-14, 2023.

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US PCE Inflation More Than Expected

According to the Bureau of Economic Analysis report, the core PCE price index increased 4.7 percent year over year, against the market expectation of 4.6%. The Bitcoin price hardly showed any deflection at the current range of $26,500. Whereas the US stock futures rose slightly in reaction to the PCE numbers.

Also Read: Thailand Grants Digital Asset License To Binance Exchange 

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.