US March PCE core inflation 2.8% YoY versus 2.7% expected

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  • Prior 2.8% (unrevised to 2.8%)
  • PCE Core YoY 2.8% vs 2.7% estimate
  • PCE Core MoM 0.3% vs 0.3% estimate.
  • Prior MoM +0.3% unrevised to 0.3%
  • Headline PCE 2.7% vs 2.6% estimate
  • Headline MoM PCE 0.3% vs 0.3% expected
  • For the full report CLICK HERE

Consumer spending and consumer income for March:

  • Personal income 0.5% vs 0.5% estimate. Prior month 0.3%.
  • Personal consumption 0.8% vs 0.6% estimate. Prior month 0.8%
  • Real personal spending 0.5% vs 0.5% last month (revised from 0.4%).

The core PCE rise was 0.32% actually. This is actually better than was feared. It looks like the higher PCE from yesterday”s GDP PCE was in January. January can be wonky due to end of year/beginning of year volatility.

The rate cut expectations is only marginally higher in September vs the 58% chance prior to the report.

This article was written by Greg Michalowski at

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