Connect with us

Economics

Watch CNBC’s live coverage of Friday’s key inflation data

Published

on


[The stream is slated to start at 8:15 a.m. ET. Please refresh the page if you do not see a player above at that time.]

The Commerce Department on Friday will release the February reading for the personal consumption expenditures price index, which the Federal Reserve considers its most important inflation measure.

CNBC TV will have special coverage starting at 8:15 a.m. ET that you can only watch here. The PCE data is released at 8:30 a.m. ET.

CNBC will analyze the numbers and what it means for markets Monday. U.S. financial markets are closed Friday for Good Friday.

Excluding food and energy, the core index was expected to rise 0.3% in February and 2.8% from a year ago, according to the Dow Jones consensus estimate, after respectively rising 0.4% and 2.8% in January. For the main number, the respective estimates are 0.4% and 2.5%, compared to 0.3% and 2.4%.

While the Fed looks at both numbers, it considers core a more reliable indicator of longer-term inflation trends.

Along with the PCE numbers, the department will release the figures for personal income and consumer spending. They are expected to show respective increases of 0.4% and 0.5%.

Read more
Fed holds rates steady and maintains three cuts coming sometime this year
Now comes the hard part for the Fed to achieve its goal of getting inflation to 2%
Long-term inflation expectations rise, spelling possible trouble for the Fed, survey shows

Subscribe to CNBC on YouTube. 



Source link

Economics

UK inflation September 2024

Published

on

The Canary Wharf business district is seen in the distance behind autumnal leaves on October 09, 2024 in London, United Kingdom.

Dan Kitwood | Getty Images News | Getty Images

LONDON — Inflation in the U.K. dropped sharply to 1.7% in September, the Office for National Statistics said Wednesday.

Economists polled by Reuters had expected the headline rate to come in at a higher 1.9% for the month, in the first dip of the print below the Bank of England’s 2% target since April 2021.

Inflation has been hovering around that level for the last four months, and came in at 2.2% in August.

Core inflation, which excludes energy, food, alcohol and tobacco, came in at 3.2% for the month, down from 3.6% in August and below the 3.4% forecast of a Reuters poll.

Price rises in the services sector, the dominant portion of the U.K. economy, eased significantly to 4.9% last month from 5.6% in August, now hitting its lowest rate since May 2022.

Core and services inflation are key watch points for Bank of England policymakers as they mull whether to cut interest rates again at their November meeting.

As of Wednesday morning, market pricing put an 80% probability on a November rate cut ahead of the latest inflation print. Analysts on Tuesday said lower wage growth reported by the ONS this week had supported the case for a cut. The BOE reduced its key rate by 25 basis points in August before holding in September.

Within the broader European region, inflation in the euro zone dipped below the European Central Bank’s 2% target last month, hitting 1.8%, according to the latest data.

This is a breaking news story and will be updated shortly.

Continue Reading

Economics

Why Larry Hogan’s long-odds bid for a Senate seat matters

Published

on

FEW REPUBLICAN politicians differ more from Donald Trump than Larry Hogan, the GOP Senate candidate in Maryland. Consider the contrasts between a Trump rally and a Hogan event. Whereas Mr Trump prefers to take the stage and riff in front of packed arenas, Mr Hogan spent a recent Friday night chatting with locals at a waterfront wedding venue in Baltimore County. Mr Hogan’s stump speech, at around ten minutes, felt as long as a single off-script Trump tangent. Mr Trump delights in defying his advisers; Mr Hogan fastidiously sticks to talking points about bipartisanship, good governance and overcoming tough odds. Put another way, Mr Hogan’s campaign is something Mr Trump is rarely accused of being: boring. But it is intriguing.

Continue Reading

Economics

Polarisation by education is remaking American politics

Published

on

DEPENDING ON where exactly you find yourself, western Pennsylvania can feel Appalachian, Midwestern, booming or downtrodden. No matter where, however, this part of the state feels like the centre of the American political universe. Since she became the presumptive Democratic presidential nominee, Kamala Harris has visited Western Pennsylvania six times—more often than Philadelphia, on the other side of the state. She will mark her seventh on a trip on October 14th, to the small city of Erie, where Donald Trump also held a rally recently. Democratic grandees flit through Pittsburgh regularly. It is where Ms Harris chose to unveil the details of her economic agenda, and it is where Barack Obama visited on October 10th to deliver encouragement and mild chastisement. “Do not just sit back and hope for the best,” he admonished. “Get off your couch and vote.”

Continue Reading

Trending