The inflation numbers in the March PCE report
– Prior was +1.8% y/y
– PCE core -0.1% m/m vs -0.1% exp
– Prior m/m core reading was +0.2%
– PCE deflator +1.8% vs +1.9% expected
The Fed’s preferred measure of inflation showed prices declining and the year-over-year reading receding. Headline inflation was a tough softer than expected.
