Summary:
The core PCE price index increased 3.2% YoY in November, below the expected 3.3%. Lowest since April 2021, signaling a slowdown.
PCE price index Dec
26/1/2023 (Fri)
Previous: 3.2% Forecast: 3.0%
The core personal consumption expenditures price index was up 3.2% in Nov from a year ago, missing forecast for a rise of 3.3%. It was the lowest level since Apr 2021.
Tumbling gas prices were a major drag on growth. Consumer spending continued to outpace expectations, lending further credence to the idea that the Fed couldstick its “soft landing”.
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