US: Annual core PCE Price Index comes in at 1.6% in March vs 1.7% expected

The data published by the U.S. Bureau of Economic Analysis today showed that the core Personal Consumption Expenditure (PCE) Price Index came in at 1.6% on a yearly basis in March, falling short of the market expectation of 1.7% and moving further away from the Fed's 2% inflation target. The market reaction to the data was muted with the US Dollar Index staying flat on a daily basis a little above the 98 mark.

Key takeaways from the press release