Breaking: US core PCE inflation softens to 2.6% in March as expected

Inflation in the US, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, edged lower to 2.3% on a yearly basis in March from 2.5% in February, the US Bureau of Economic Analysis (BEA) reported on Wednesday. This reading came in above the market expectation of 2.2%

The core PCE Price Index, which excludes volatile food and energy prices, rose 2.6% in the same period, down from the 3% increase reported in February and in line with analysts' estimates. The core PCE Price Index was unchanged on a monthly basis.

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