Prices of personal consumption expenses rise 2.4% in one year in the US.

The price index on personal consumption expenditures (PCE), a key data that guides the monetary policy of the Federal Reserve of USAmarked an increase of 2.4% year-on-year in January, the Bureau of Economic Statistics (BEA) reported this Thursday.

The data shows a decrease of two tenths in relation to the interannual PCE of December.

In January and compared to the same month a year ago, service prices increased by 3.9% and those of goods decreased by 0.5%. Food prices rose 1.4% and the energy ones went down a 4.9%.

If food and energy are excluded, which are the most volatile prices, in January the year-on-year core inflation in the PCE was 2.8%one tenth less than the previous month.

In January, prices for personal consumption expenses rose by 0.3% compared to an increase in 0.1% The last month.

This indicator is calculated based on inflation (or deflation) of a wide range of consumer spending and reflects changes in the behavior of consumers, whose purchases are equivalent to almost two-thirds of economic activity in the United States.

The Federal Reserve, which directs US monetary policy, pays close attention to PCE along with core inflation, unemployment and gross domestic product (GDP).

BEA reported this Wednesday that the United States economy closed 2023 with GDP growth of 3.1% in its second review of the indicator.

The unemployment rate remained at the 3.7% for the third consecutive month and inflation that month was 3.1% after 3.4% in December.

The minutes of the meeting on January 30 and 31 of the Federal Reserve Open Market Committee show that the organization considers that interest rates have reached a peak, but indicate that the organization will not lower them, it will continue to strive to reach its objective of 2% inflation.

The Federal Reserve maintains the reference interest rate between 5.25% and the 5.5%, its highest level since 2001.