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U.S. PCE index growth in April lower than March

The US April PCE deflator rose 0.2% and 6.3% year-on-year, respectively. Its year-on-year growth was significantly slower than March's 6.6%. In fact, the same is reflected in the CPI figures released in the middle of this month. It seems that the Biden administration's temporary exemption from tariffs on more than 300 imported goods from the mainland can effectively reduce U.S. inflation. But it still seems too early to say whether U.S. inflation will fall back as a result. The threat of inflation remains, as seen from the recent rise in energy and food prices. As for the second quarter, the US economy remains strong, with personal consumption rising 0.9% month-on-month in April.
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