Fed’s inflation indicator announced
In the US, the PCE deflator increased by 0.3 percent in February compared to the previous month.
The expectation of economists participating in the Bloomberg survey was that the increase would be 0.3 percent on a monthly basis.
On an annual basis, a 5% increase was observed in the PCE deflator. The expectation for this data was 5.1 percent. January data was revised to 5.3 percent from 5.4 percent.
The PCE core deflator increased 0.3 percent month-on-month over the same period. The expectation was announced as 0.4 percent. Annually, the core deflator rose 4.6 percent. Economists surveyed by Bloomberg had expected an increase of 4.6 percent.
Personal spending and income data also released
Personal income and spending data in the US were also released. Personal income rose 0.3 percent in February. The expectation for this data was an increase of 0.2 percent.
Personal spending rose 0.2 percent in February. The expectation here was 0.3 percent.