Breaking: U.S. Core PCE Inflation Surges 4.7%, More Interest Rate Hikes Ahead?

Inflation in the United States, as measured by the Personal Consumption Expenditures (PCE) Price Index, increased to 5.4% on a yearly basis in January from 5.3% in December. This comes following the announcement released by the U.S. Bureau of Economic Analysis. The number came in higher than the 4.9% that was anticipated by market participants.