WASHINGTON, DC - The U.S. Federal Reserve seemingly has inflation under control with the latest econbomic data confirming little push back.
The Personal Consumption Expenditures Price Index for January has come in at 2.5 percent, in line with expectations, according to the Bureau of Economic Analysis, in a report published on Friday.
The January figure was slightly better than December when the PCE price index registered a 2.6 percent increase.
U.S,. stock prices rallied on the news with major indices recording gains across-the-board.
Meantime in Tokyo, the Statistics Bureau of Japan said the Tokyo headline CPI retreated sharply to 2.9 percent in january, from 3.4 percent. The news sent the Japanese yen sharply lower. The unit was changing hands at 150.74 in late-morning trading in New York on Friday. The Nikkei 225 in Tokyo earlier closed sharply lower, with the key index tumbling 1,100.67 points or 2.88 percent to 37,155.50.
