WASHINGTON (Reuters) – The rise in consumer prices in the United States accelerated in April, a widely followed measure of core inflation exceeding the Federal Reserve’s 2% target, published statistics show Friday by the Commerce Department.
The “core PCE” price index, which excludes the volatile categories of energy and food products, posted an increase of 0.7% over one month and 3.1% over one year. The consensus gave it up a little less sustained, 0.6% month on month and 2.9% year on year.
In March, it was up 0.4% from February and 1.9% year on year.
Consumption, which accounts for nearly two-thirds of economic activity in the United States, rose 0.5% last month after rising 4.7% (revised) in March, the Commerce Department said.
At the same time, household incomes fell 13.1% after jumping 20.9% the previous month.
Economists polled by Reuters on average forecast a 14.1% drop in income and a 0.5% increase in consumption.
(Lucia Mutikani, French version Marc Angrand, edited by Patrick Vignal)
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