PCE Inflation Jumps Ahead of Iran Conflict, Keeping Fed Hikes in Play
TL;DR Summary
The Fed’s preferred inflation gauge rose 0.4% for a third straight month (core also +0.4%), lifting the year-over-year PCE to 2.8% and core PCE to 3.0%—still well above the Fed’s 2% target. Analysts expect near-term oil-price spikes linked to the Iran conflict to push prices higher and delay rate cuts, with the market reacting to higher rates and a softer economy if the conflict persists.
- Inflation was getting worse before Iran war. PCE price increases show how much. MarketWatch
- Core inflation was 3% in February, as expected, key Fed gauge shows CNBC
- US PCE inflation picks up in February; consumer spending solid Reuters
- Inflation was cooling. Now the Iran war could push it back to 2024 levels. CBS News
- How the Iran war affects Americans' inflation expectations Axios
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