January 2017 US personal income spending and PCE data report 1 March 2017
– Core PCE 1.7% vs 1.7% exp y/y. Prior 1.7%
– 0.3% vs 0.2% exp m/m. Prior 0.1%
– Personal income 0.4% vs 0.3% exp m/m. Prior 0.3%
Ignore the PCE miss of expectations as it’s still 3 ticks up on last month. The core will keep inflation watchers feet on the ground as it stays at 1.7%.