Following on the earlier quick hit "BEA Personal Consumption Expenditures Price Index: Headline UP 0.3%; Core UP 0.4%".
From ZeroHedge, March 13:
Savings Rate Highest In 6 Months As Fed's Favorite Inflation Indicator Rises Near 2-Year High
The Fed's favorite inflation indicator - Core PCE (a measure of price changes in consumer goods and services that excludes volatile food and energy costs) - rose o.4% MoM in January (in line with expectations) with YoY rising by 3.1% (as expected), slightly higher than the 3.0% in December...
Source Bloomberg
That is the highest YoY Core PCE since March 2024.
The headline PCE rose 0.3% MoM (as expected) driving prices up 2.8% YoY (down from December's +2.9% YoY)...
Source Bloomberg
Services continue to dominate the prices gains with Goods costs dropping very marginally in January...
Source Bloomberg
For those worried about the impact of crude oil's recent surge (since the start of the Iran war), it appears - somehow - that PCE's Energy component has already front-run a lot of the move...
....MUCH MORE
