Author: Greg Michalowski

US headline PCE YoY 0.3% (est. +0.3%).  PCE headline MoM +0.2% (est. +0.2%)

The data is close to expectations. The Core PCE is a touch higher than estimate at 1.4% vs 1.3% estimate. It is also up from last month's 1.3%.  The prior month PCE change for January was revised to -0.4% from -0.5%.  WIth the rapid decline in the price of oil, the headline PCE will take some time to get back toward the 2% target of the Fed. The core PCE rising to 1.4% is a positive for inflation but is still below the 2% target for the Fed.  

Below are the trends in the inflation measures:



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