The Nikkei Tokyo Stock Exchange opened negative today. Following the direction of the US stock market, which fell heavily on Friday. After the US released higher than expected inflation data. This will be a factor that supports the Federal Reserve (Fed) to accelerate interest rates.
The Nikkei Index opened at 25,778.95, down 158.26, or -1.61%.
The US Commerce Department said the primary personal consumption expenditure (PCE) price index, excluding food and energy This is the Fed’s key inflation gauge, up 4.9 percent year over year in August. And above analysts’ expectations of 4.7 per cent from 4.7 per cent in July And month-on-month, the core PCE index rose 0.6 per cent in August and beat analysts’ expectations of 4.7 per cent by 0.5% after being flat in the month of July
The PCE Index is a measure of inflation that can detect changes in consumer behaviour. And it covers a wider range of prices for goods and services than the Consumer Price Index (CPI) data from the US Department of Labor.