PCE core
  • Prior was 4.7%
  • PCE price index +0.4% m/m vs +0.6% prior
  • PCE price index +5.8% y/y vs +5.7% prior

Consumers spending and income for December:

  • Personal income +0.3% vs +0.5% expected.
  • Personal spending -0.6% vs -0.6% expected.
  • Real personal spending -1.0% vs -0.2% prior

There's nothing here that would have spooked Powell this week. You would like to see the month-over-month number start too cool. Energy prices fell in December but the slack was picked up elsewhere, pushing the overall index 0.4% higher.