While Americans’ income and spending is normally the headline-making data, this morning’s release will focus all eyes on The Fed’s favorite inflation indicator – the PCE Deflator.
The headline PCE Deflator rose 3.6% YoY, the fastest rate or price increases since 2008.
Even more notably, the Core PCE Deflator soared 3.1% YoY (hotter than the +2.9% YoY expected) and the hottest print since May 1992…
Source: Bloomberg
