The United States Personal Consumption Expenditure (PCE) Index increased by 3.4% year-on-year, staying in line with expectations. Bitcoin increased by 0.69% with the announcement of the data.
According to the US Bureau of Economic Analysis, the PCE index surged by 0.4% month-on-month, aligning with expectations. Whereas the YoY increase was 3.$%
The Core PCE index, which excludes food and energy, increased 3.7% YoY and 0.3% MoM. The core PCE inflation is nearly at its two-year low.
After the announcement of the US PCE date, the price of Bitcoin (BTC) has increased by 0.69%, trading at $34,154.
Read more: 7 Ways To Handle Retirement With Increasing Inflation
This is a developing story.
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