The personal consumption expenditures price index increased by 5% year-over-year in the month of February, down from 5.4% in January.
The S&P 500 logged a weekly gain to finish off a volatile but positive first quarter marked by more Federal Reserve tightening and a banking crisis driven by the collapse of Silicon Valley Bank.
On Friday, the Bureau of Economic Analysis reported the personal consumption expenditures price index increased by 5% year-over-year in the month of February, down from 5.4% in January. Core PCE, which excludes volatile food and energy prices and is the Fed’s preferred inflation gauge, was up 4.6%, below analyst estimates of a 4.7% gain.
On Thursday, former U.S. President Donald Trump was indicted on roughly 30 criminal counts of document fraud stemming from alleged hush money payments made to adult film star Stormy Daniels in 2016 when he was the front runner for the Republican presidential nomination.
