February 24, 2023 | Daily JAM, Morning Briefing |
The Personal Consumption Expenditures index, the Federal Reserve’s preferred inflation gauge, rose in January at its fastest pace since June. Consumer prices rose 0.6% from December to January, up sharply from a 0.2% increase from November to December, the Commerce Department reported on Friday, February 24. Year-over-year prices rose at a 5.4% rate, up from a 5.3% annual race in December. Core inflation, which excludes volatile energy and food prices, rose 0.6% from December, up from a 0.4% rise in December from Movember. Year-over-year core inflation was up 4.7% in January, versus a 4.6% year-over-year rate in December.
February 20, 2023 | Daily JAM, Morning Briefing |
The big event of the week will be Friday’s report on the Personal Consumption Expenditures (PCE) inflation index. This, rather than the CPI, is the inflation measure that the Federal Reserve watches.
December 1, 2022 | Daily JAM, Morning Briefing |
Inflation progress in October but painfully slow. PCE–personal consumption expenditure–in inflation, the Federal Reserve’s preferred inflation index, rose at a 6% rate year over year rate through October. That was down from a 6.3% rate in September. The core PCE index, which strips out food and energy costs, rose at a 5% rate, roughly where it’s been for most of 2022.
October 28, 2022 | Daily JAM, Morning Briefing |
Inflation as measured by the Personal Consumption Expenditures index, the Federal Reserve’s favorite inflation guide, rose at an annual rate of 6.2% in September, according to data released today, October 28. The core index, which excludes more volatile prices for food and energy, rose at an annual rate of 5.1%. The month-to-month gain in the overall PCE was 0.3% and the core index climbed a month-to-month 0.5%.
July 29, 2022 | Daily JAM, Morning Briefing |
Inflation, measured by the Federal Reserve’s preferred Personal Consumption Expenditures index climbed 6.8% in the twelve months that ended in June. That’s the fastest rate of growth since 1982. Core PCE inflation (that is after removing food and energy costs) rose 4.8%. The core rate was slightly above the 4.7% expected by economists surveyed by Bloomberg. In other data today wages climbed at a robust clip, although not a high enough gain to keep up with inflation.
February 24, 2022 | Daily JAM, Short Term |
I know it’s easy to forget that there’s other market moving news on the horizon (besides what the next day will bring in the Russian invasion of Ukraine) but tomorrow, Friday, February 25, the government will report the Personal Consumption Expenditures (PCE) price index, the inflation index that the Federal Reserve uses, for January. That measure is projected to show inflation rising at an annual rate of 6% in January, according to economists surveyed by Bloomberg. The core rate, which excludes food and fuels, is forecast to climb to an annualized 5.2%. The PCE index was up 5.8% year over year in December. The core rate was up 4.9% year over year in December.
November 29, 2016 | Daily JAM, Morning Briefing, Short Term |
The second revision to U.S. GDP growth in the third quarter was the charm. The U.S. economy grew at a 3.2% annualized rate in the the three months that ended in September, according to the Commerce Department. That was ahead of the 2.9% growth reported in the initial estimate and above the 3% growth rate that economists surveyed by Bloomberg were expecting.
