US January 2021 PCE report

US January PCE core
  • Prior was +1.5% y/y
  • PCE core MoM +0.3% vs +0.1% expected
  • Prior MoM +0.3%
  • Deflator YoY +1.5% vs +1.4% expected
  • Prior deflator YoY +1.3%
  • Deflator MoM +0.3% vs +0.1% expected
  • Prior MoM deflator +0.3%

Consumers spending and income for August:

  • Personal income +10.0% vs +9.5% expected. Prior month +0.6%
  • Personal spending +2.4% vs +2.5% expected. Prior month -0.2% (revised to -0.4%)
  • Real personal spending +2.0% vs +2.2% expected. Prior month -0.6% (revised to -0.8%)

Higher inflation and slightly softer inflation isn't the combination the market wanted to see today.