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In the eurozone, the rate of increase in consumer prices in March decreased from 2.6% in February to 2.4% annually, the lowest level since November of last year. March's 2.9% core inflation rate, which takes food and energy costs out of the equation, was the lowest since February 2022.
In the meantime, the PCE index, the primary inflation indicator that the Fed monitors, increased from 2.4% to 2.5% in February. The increase in the PCE Core index, which does not include the price of food or energy, decreased to 2.8% from 2.9%.
According to Frederik Ducrozet, an analyst at Pictet Wealth Management, "it has become clear in the first three months of this year that the momentum to dampen inflation remains stronger in Europe than in the U.S."
On April 3, Fed Chairman Jerome Powell told Stanford that the Fed is still fighting inflation.
"We don't think it would be appropriate to lower the rate until we are more confident that inflation is moving steadily toward 2 percent," he stated.
source: ft.com
In the meantime, the PCE index, the primary inflation indicator that the Fed monitors, increased from 2.4% to 2.5% in February. The increase in the PCE Core index, which does not include the price of food or energy, decreased to 2.8% from 2.9%.
According to Frederik Ducrozet, an analyst at Pictet Wealth Management, "it has become clear in the first three months of this year that the momentum to dampen inflation remains stronger in Europe than in the U.S."
On April 3, Fed Chairman Jerome Powell told Stanford that the Fed is still fighting inflation.
"We don't think it would be appropriate to lower the rate until we are more confident that inflation is moving steadily toward 2 percent," he stated.
source: ft.com
