US prices increased moderately in February while the cost of services outside housing slowed considerably, keeping a June interest rate cut from the Federal Reserve on the table.
The Personal Consumption Expenditures (PCE) Price Index rose by 0.3 per cent last month, the Commerce Department's Bureau of Economic Analysis said on Friday.
Data for January was revised higher to show the PCE price index climbing 0.4 per cent, instead of 0.3 per cent as previously reported.
In the 12 months through to February, PCE inflation advanced 2.5 per cent after increasing by 2.4 per cent in January.
Economists polled by Reuters had forecast that the PCE price index gaining 0.4 per cent on the month and rising 2.5 per cent year-on-year.
Price pressures are subsiding, although the pace has slowed from the first half of last year.
Fed officials last week left the US central bank's policy rate unchanged in the current 5.25 per cent to 5.5 per cent range, having raised it by 525 basis points since March 2022.
Policymakers expect three rate cuts this year and financial markets expect the first rate reduction in June.
Fed Governor Christopher Waller said on Wednesday that “there is no rush to cut the policy rate” right now, but he did not rule out trimming borrowing costs later in the year.
Excluding the volatile food and energy components, the PCE price index increased 0.3 per cent last month, which followed an upwardly revised 0.5 per cent gain in January.
The so-called core PCE price index was previously reported to have advanced 0.4 per cent in January.
Core inflation increased 2.8 per cent year-on-year in February after rising 2.9 per cent in January.
The Fed tracks the PCE price measures for its 2 per cent inflation target. Monthly inflation readings of 0.2 per cent over time are necessary to bring inflation back to target.
PCE services inflation excluding energy and housing gained 0.2 per cent last month after surging 0.7 per cent in January.
Policymakers are monitoring the so-called super core inflation to gauge their progress in fighting inflation.
Consumer spending, which accounts for more than two thirds of US economic activity, jumped 0.8 per cent last month after increasing 0.2 per cent in January, the report also showed.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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%3Cp%3E%3Cstrong%3EFirst%20match%3A%20%3C%2Fstrong%3ENovember%2020%0D%3Cbr%3E%3Cstrong%3EFinal%2016%20round%3A%20%3C%2Fstrong%3EDecember%203%20to%206%0D%3Cbr%3E%3Cstrong%3EQuarter-finals%3A%20%3C%2Fstrong%3EDecember%209%20and%2010%0D%3Cbr%3E%3Cstrong%3ESemi-finals%3A%20%3C%2Fstrong%3EDecember%2013%20and%2014%0D%3Cbr%3E%3Cstrong%3EFinal%3A%20%3C%2Fstrong%3EDecember%2018%3C%2Fp%3E%0A
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A German university was a good fit for the family budget
Annual fees for the Technical University of Munich - £600
Shared rental accommodation per month depending on the location ranges between £200-600
The family had budgeted for food, books, travel, living expenses - £20,000 annually
Overall costs in Germany are lower than the family estimated
As proof that the student has the ability to take care of expenses, international students must open a blocked account with about £8,640
Students are permitted to withdraw £720 per month
Racecard
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TYPES%20OF%20ONLINE%20GIG%20WORK
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Opening Rugby Championship fixtures:Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)
RESULTS
6pm: Mazrat Al Ruwayah – Group 2 (PA) $40,000 (Dirt) 1,600m
Winner: AF Alajaj, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
6.35pm: Race of Future – Handicap (TB) $80,000 (Turf) 2,410m
Winner: Global Storm, William Buick, Charlie Appleby
7.10pm: UAE 2000 Guineas – Group 3 (TB) $150,000 (D) 1,600m
Winner: Azure Coast, Antonio Fresu, Pavel Vashchenko
7.45pm: Business Bay Challenge – Listed (TB) $100,000 (T) 1,400m
Winner: Storm Damage, Patrick Cosgrave, Saeed bin Suroor
20.20pm: Curlin Stakes – Listed (TB) $100,000 (D) 2,000m
Winner: Appreciated, Fernando Jara, Doug O’Neill
8.55pm: Singspiel Stakes – Group 2 (TB) $180,000 (T) 1,800m
Winner: Lord Glitters, Daniel Tudhope, David O'Meara
9.30pm: Al Shindagha Sprint – Group 3 (TB) $150,000 (D) 1,200m
Winner: Meraas, Antonio Fresu, Musabah Al Muhairi
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DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
What is an ETF?
An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.
There is no fund manager deciding which stocks and other assets to invest in, instead they passively track their chosen index, country, region or commodity, regardless of whether it goes up or down.
The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.
There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.
While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash.
How to tell if your child is being bullied at school
Sudden change in behaviour or displays higher levels of stress or anxiety
Shows signs of depression or isolation
Ability to sleep well diminishes
Academic performance begins to deteriorate
Changes in eating habits
Struggles to concentrate
Refuses to go to school
Behaviour changes and is aggressive towards siblings
Begins to use language they do not normally use
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Fixtures (all times UAE)
Saturday
Brescia v Atalanta (6pm)
Genoa v Torino (9pm)
Fiorentina v Lecce (11.45pm)
Sunday
Juventus v Sassuolo (3.30pm)
Inter Milan v SPAL (6pm)
Lazio v Udinese (6pm)
Parma v AC Milan (6pm)
Napoli v Bologna (9pm)
Verona v AS Roma (11.45pm)
Monday
Cagliari v Sampdoria (11.45pm)
BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES
SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities
Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails
Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies
Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments
Bombshell
Director: Jay Roach
Stars: Nicole Kidman, Charlize Theron, Margot Robbie
Four out of five stars
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