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CoinGape 2024-12-20 13:55:19

Just In: US PCE Inflation Rises to 2.4%, Crypto Market Braces for Impact

Just In: US PCE Inflation Rises to 2.4%, Crypto Market Braces for Impact

US economic data for November 2024 showed steady growth in key metrics, with the PCE inflation index increased by 0.1% month-over-month and 2.4% year-over-year. Excluding food and energy, the core PCE index rose by 0.1% monthly and 2.8% annually. According to the Bureau of Economic Analysis, personal income rose 0.5%, DPI increased 0.3%, and PCE climbed 0.4%. Real disposable income and spending also had moderate gains, while the inflation indicators-the PCE price index, for instance-remained subdued at 0.1% month-over-month. US Core PCE Inflation Cools: Less Volatility for Crypto? Personal consumption expenditures in the United States rose 0.4% or $81.3 billion in November, the nation ‘s Bureau of Economic Analysis (BEA) reported Friday. The PCE price index rose 0.1% month- over -month and 2.4% year- over -year. The figure increased 0.1% on a monthly basis and 2.8% on an annual one when excluding food and energy . Personal income increased 0.5 percent or $71.1 billion in the month compared to the prior month. Meanwhile, DPI increased 0.3 percent or $61.1 billion. The 0.4% rise in PCE shows that consumer spending is resilient, propped up by categories such as autos, goods, and recreation. The modest increase in the PCE price index points to low inflation, which could see the Federal Reserve maintain policy as is. For cryptocurrencies, this stable macroeconomic environment can mean less volatility since fewer surprises on the inflation or income growth front minimize market shocks. The post Just In: US PCE Inflation Rises to 2.4%, Crypto Market Braces for Impact appeared first on CoinGape .

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