(Finance) – Today’s report of the US Core Personal Consumption Expenditure (PCE) index, which came in above expectations in January 2023, “shows that we’ve made progress on inflation, but we still have a lot of work to do“. The US president says it in a note Joe Bidennoting that “annual inflation in January was down from the summer, while the unemployment rate remained at or near a 50-year low and wages rose.”
“We also continued to make progress on the data in this report – he added – with gas prices down again, now more than $1.60 from last summer’s peak after Putin’s irresponsible encroachment. As I said long, there may be setbacks along the waybut we face global economic challenges from a position of strength.”