US inflation continues to fall
Consumer prices rose less than expected in February, the latest monthly update of the Federal Reserve's preferred measure of inflation showed, the core PCE deflator. The annual rise in core PCE prices edged down to 4.6% from 4.7% in Jan, matching the lowest it has been since the end of 2021. Looking at the chart, CPI, PPI and PCE are trending down, although the pace lower is a bit slower than it was on the way up. This release can possibly prompt the Fed to stop its hiking cycle as the trend in inflation continues lower.
Rand trading stronger
The rand is still benefitting from the bigger surprise rate hike and continued to drift stronger during the day. The stronger move for the week has been significant as we started the week at R18.35, so we are 3.5% better off, so a bit of consolidation at these levels is to be expected.
#Inflation #ConsumerPrices
