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Former JP Morgan Chase chief economist Anthony Chan breaks down the run up in oil prices on Varney & Co.<\/p>\n
This story on the January 2026 PCE inflation report is developing and will be updated with more details.<\/p>\n
The Federal Reserve’s preferred\u00a0inflation gauge remained stubbornly high in January as consumers continued to face elevated price growth.<\/p>\n
The Commerce Department on Friday reported that the\u00a0personal consumption expenditures (PCE) index rose 0.3% on a monthly basis in January and is up 2.8% from a year ago. The monthly figure was in-line with the expectations of economists polled by LSEG, while the annual figure was slightly lower than the 2.9% estimate.<\/p>\n
Core PCE, which excludes volatile measurements of food and energy prices, was up 0.4% from a month ago and increased 3.1% year over year. Both figures were in line with economists’ expectations from the LSEG poll.<\/p>\n
Federal Reserve policymakers are focusing on the PCE headline figure as they try to bring inflation back to their long-run target of 2%, though they view core data as a better indicator of inflation. Compared with December’s readings, headline PCE inflation declined slightly from 2.9% while core PCE rose from 3%.<\/p>\n
FED OFFICIALS CLOSELY MONITOR IRAN CONFLICT FOR POTENTIAL INFLATION IMPACT<\/p>\n
Prices for goods were up 1.3% in January on an annual basis, down from 1.7% in December. Goods prices increases were even lower last summer, when the index posted annual gains of 0.6% in June and July and 0.9% in August.<\/p>\n
Durable goods prices increased 2.2% in January from a year ago, up from a 2.1% reading in December. The index was close to 1% from June through November. Nondurable goods prices rose just 0.8% in January, a decline from the 1.6% annual rate recorded in December and the lowest reading since August.<\/p>\n
Services prices were up 3.5% from a year ago in January. That’s up slightly from the 3.4% services inflation rate that persisted from September through December.<\/p>\n
The personal savings rate as a percentage of disposable personal income was 4.5% in January. That represents an increase from the 4% savings rate that prevailed from October through December, and is also the highest reading for the index since it was last at 4.5% in July.<\/p>\n
What experts are sayingWhat does it mean for the Fed?#January #PCE #Feds #favored #inflation #gauge #remained #stubbornly #high<\/p>\n","protected":false},"excerpt":{"rendered":"
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