{"id":283750,"date":"2021-06-25T15:48:39","date_gmt":"2021-06-25T12:48:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/key-inflation-indicator-rose-3-4-percent-from-a-year-ago\/"},"modified":"2021-06-25T15:48:39","modified_gmt":"2021-06-25T12:48:39","slug":"key-inflation-indicator-rose-3-4-percent-from-a-year-ago","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/key-inflation-indicator-rose-3-4-percent-from-a-year-ago\/","title":{"rendered":"#Key inflation indicator rose 3.4 percent from a year ago"},"content":{"rendered":"

“#Key inflation indicator rose 3.4 percent from a year ago<\/strong>”<\/p>\n

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A key inflation indicator rose 3.4 percent in May from a year ago as\u00a0costs continued to surge in the US just as the economy mounts a comeback from the pandemic, the feds said Friday.<\/p>\n

It\u2019s the most since April 1992 that the core personal consumption expenditures index has risen over 12 months, according to data from the Commerce Department.<\/p>\n

The so-called core PCE index, which excludes volatile food and energy, rose 0.5 percent from April, after rising 0.7 percent from March to April, the Commerce Department reported.<\/p>\n

Economists surveyed by Dow Jones expected core PCE prices to rise by 0.6 percent in May from a month earlier, and 3.4 percent from a year ago.<\/p>\n

The index tracks prices across a variety of goods and services and is considered a broader measure for inflation than the Labor Department\u2019s Consumer Price Index, which\u00a0rose a whopping 5 percent in May from a year ago. <\/p>\n

Federal Reserve officials consider the core PCE index to be among the best gauges for inflation, though they watch various statistics.<\/p>\n

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The Shops at Crystals, an upscale shopping mall in Las Vegas.<\/figcaption>
Alamy Stock Photo<\/span><\/figcaption><\/figure>\n

Including food and energy, which are more volatile than other goods, the Commerce Department\u2019s index jumped 3.9 percent from a year ago and 0.4 percent from April.<\/p>\n

One driver of the massive year-over-year gain is very low inflation this time last year, when the pandemic gutted the economy and consumers were staying indoors and spending less. That could distort year-over-year comparison as the economy reopens.<\/p>\n

Those comparisons aside,\u00a0prices are spiking\u00a0throughout the economy for a variety of reasons. A global microchip shortage that\u2019s hurt car manufacturing has sent the prices of used cars soaring.<\/p>\n

Commodities from lumber to corn and other crops have risen dramatically, though some of those prices have crested and begun to fall again in recent weeks. A labor shortage that\u2019s\u00a0preventing many businesses from fully reopening\u00a0and meeting demand is also driving up some costs.<\/p>\n

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The Penguin Hotel & Front Porch Cafe in South Beach, Miami, Florida.<\/figcaption>
Alamy Stock Photo<\/span><\/figcaption><\/figure>\n

Many companies are now\u00a0passing those costs on to consumers, sending prices for\u00a0new houses, food \u2014 and more \u2014 upward.<\/p>\n

For now, the jump in prices app<\/a>ears to reflect rapidly strengthening consumer demand as Americans venture out of their homes after a year of social<\/a> distancing and pandemic-related restrictions.<\/p>\n

But the rise in costs is also fueling a debate among economists over whether the inflation bout will be only temporary as the economy reopens, or whether massive federal spending will drive costs higher for years to come.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Key inflation indicator rose 3.4 percent from a year ago” A key inflation indicator rose 3.4 percent in May from a year ago as\u00a0costs continued to surge in the US just as the economy mounts a comeback from the pandemic, the feds said Friday. It\u2019s the most since April 1992 that the core personal consumption…<\/p>\n","protected":false},"author":1,"featured_media":283751,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/06\/consumer-spending-89-1.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[110313,74694,5069,70551,74132],"class_list":["post-283750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-25-21","tag-consumer-spending","tag-economy","tag-inflation","tag-prices"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/283750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=283750"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/283750\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/283751"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=283750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=283750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=283750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}