Getting straight to the point, the Personal Consumption Expenditures (PCE) index didn’t show significant changes. Year-over-year inflation increased from 2.4% to 2.5%, as we had anticipated, with energy costs rising by 2.4% in February, serving as the main driver.

The core rate, which excludes food and energy, rose by 0.3%, in line with expectations.

However, the overall index decreased from 2.9% to 2.8%.

Inflation seems to have stalled, leaving us in somewhat of a limbo situation at the moment.

The graph below illustrates the progress made in reducing inflation