Synopsis On 24th February 2023, the United States Commerce Department released the inflation data, which reported the Personal Consumption Expenditure (PCE) for Jan 2023 rising to 5.4% from the year earlier, which stood higher than expectations. Equity markets worldwide are adjusting to the new normal, marked by persistent inflation leading to higher interest rates. The structure of this inflation, however, is a little complex as there are several factors at play ranging from the war in Europe to issues of China, along with a few long-term challenges such as changing demographics of the world. Nonetheless, supply-side challenges are still the primary factor for the prevailing inflation. On 24th February 2023, the United States Commerce Department released the inflation data, which reported the Personal Consumption Expenditure (PCE) for Jan 2023 rising to 5.4% from the year earlier, which stood higher than expectations. The PCE is the US Federal Reserve's favourite parameter to gauge inflation, continuing to point towards the sticky nature of inflation, which means that various supply-side constraints are the primary factors responsible for it. Nonetheless, the current scenario is not new but a relic of the past that has emerged strongly with new challenges in the globalized world. Before… Read full this story
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