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PCE inflation increased year over year by 2.4% in November. The PCE data for December will be released on Jan. 31. The Fed cut interest rates by a quarter-point in December.
Over the prior year, core prices rose 2.8%, in line with Wall Street's expectations and unchanged from November. On a yearly basis, overall PCE increased 2.6%, a pickup from the 2.4% seen in November.
The Personal Consumption Expenditures price index rose 2.6% in December from the year before, heating up from November’s 2.4% increase, according to new Commerce Department data released Friday.
This is The Takeaway from today's Morning Brief, ... What we're reading. Economic data releases and earnings ... (BofA's Bhave says it'd take "3% core PCE inflation and unanchored long-term ...
The odds of a bigger cut rose slightly to 54% following the release of the PCE data. The consensus among Fed officials outlined last week is for two more 25 basis point rate cuts in 2024.
The PCE price index (PePP), also referred to as the PCE deflator, PCE price deflator, or the Implicit Price Deflator for Personal Consumption Expenditures (IPD for PCE) by the Bureau of Economic Analysis (BEA) and as the Chain-type Price Index for Personal Consumption Expenditures (CTPIPCE) by the Federal Open Market Committee (FOMC), is a United States-wide indicator of the average increase ...
On a month-over-month basis, "core" PCE rose 0.2%, faster than the 0.1% seen in November. The annual and monthly figures were in line with Wall Street expectations.
Economists expect annual "core" PCE — which excludes the volatile categories of food and energy — to have clocked in at 2.8% in October, up from the 2.7% seen in September.