US PCE Inflation Declines to 3.4%, Staying Inline With Expectations

US PCE Index Falls to 3.4% YoY

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The United States Personal Consumption Expenditure (PCE) Index increased by 3.4% year-on-year, staying in line with expectations. Bitcoin increased by 0.69% with the announcement of the data.

According to the US Bureau of Economic Analysis, the PCE index surged by 0.4% month-on-month, aligning with expectations. Whereas the YoY increase was 3.$%

The Core PCE index, which excludes food and energy, increased 3.7% YoY and 0.3% MoM. The core PCE inflation is nearly at its two-year low.

US PCE
US Core PCE price index YoY. Source: Investing.com

After the announcement of the US PCE date, the price of Bitcoin (BTC) has increased by 0.69%, trading at $34,154.

Read more: 7 Ways To Handle Retirement With Increasing Inflation

Bitcoin price
Bitcoin price. Source: TradingView

This is a developing story.

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Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

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