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USD Breaking News: PCE Price Index Declines Adding Further Pressure on the DXY

January 27, 2023

Via: DailyFX

Core PCE prices in the US, which exclude food and energy, went up by 0.3% month-over-month in December of 2022, picking up from the 0.2% increase in the prior month and in line with market estimates. Prices for goods increased 4.6 percent and prices for services increased 5.2 percent. Food prices increased 11.2 percent and energy prices increased 6.9 percent. Excluding food and energy, the PCE price index increased 4.4 percent from one year ago. This marks the slowest increase in 14 months. Today’s PCE print will add further pressure to the dollar as markets may see this as a sign the Fed may slow the pace of rate hikes earlier.

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