403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Federal Reserve assess inflation by a hike of 4.9 percent
(MENAFN) The Commerce Department announced on Friday that an indicator adopted by the Federal Reserve to assess inflation, recorded a hike of 4.9 percent from the previous year; making it the largest increase since September 1983.
The main basic consumption expenditures cost index, minus food and energy, was marginally higher than the 4.8 percent Dow Jones forecast and slightly higher than November's 4.7 percent rate. The 0.5 percent monthly growth was in accordance with the estimations.
In addition to the inflation figures, personal earnings increased by 0.3 percent for the month, which is slightly less than the 0.4 percent forecast. Moreover, consumer expenditure dipped by 0.6 percent, lower than the forecasted 0.7 percent drop.
The main basic consumption expenditures cost index, minus food and energy, was marginally higher than the 4.8 percent Dow Jones forecast and slightly higher than November's 4.7 percent rate. The 0.5 percent monthly growth was in accordance with the estimations.
In addition to the inflation figures, personal earnings increased by 0.3 percent for the month, which is slightly less than the 0.4 percent forecast. Moreover, consumer expenditure dipped by 0.6 percent, lower than the forecasted 0.7 percent drop.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment