US February PCE core inflation +2.8% y/y vs +2.8% expected

Prior month 2.8% (revised to 2.9%)PCE core m/m +0.3% vs +0.3% expectedPrior m/m core +0.4% (revised to +0.5%)Headline PCE +2.5% y/y vs +2.5% expected (prior 2.4%). Headline m/m +0.3% vs +0.4% expected3 month annualized vs 2.8% prior6 month annualized vs 2.6% priorConsumer spending and consumer income for February:Personal income +0.3% versus +0.4% expected. Prior month 0.3%.Personal spending +0.8% versus +0.5% expected. Prior month +0.2%Real personal spending +0.4% vs -0.1% last month (revised to -0.2%)There are no big surprises in the headlines but I will dig down into the data to see if there's anything hidden. The revisions to the January data are a touch higher but it didn't bump up the Feb y/y numbers.Overall, it's a tad hot and the dollar is a tad stronger. This article was written by Adam Button at www.forexlive.com.

Mar 29, 2024 - 18:25
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US February PCE core inflation +2.8% y/y vs +2.8% expected
  • Prior month 2.8% (revised to 2.9%)
  • PCE core m/m +0.3% vs +0.3% expected
  • Prior m/m core +0.4% (revised to +0.5%)
  • Headline PCE +2.5% y/y vs +2.5% expected (prior 2.4%).
  • Headline m/m +0.3% vs +0.4% expected
  • 3 month annualized vs 2.8% prior
  • 6 month annualized vs 2.6% prior

Consumer spending and consumer income for February:

  • Personal income +0.3% versus +0.4% expected. Prior month 0.3%.
  • Personal spending +0.8% versus +0.5% expected. Prior month +0.2%
  • Real personal spending +0.4% vs -0.1% last month (revised to -0.2%)

There are no big surprises in the headlines but I will dig down into the data to see if there's anything hidden. The revisions to the January data are a touch higher but it didn't bump up the Feb y/y numbers.

Overall, it's a tad hot and the dollar is a tad stronger. This article was written by Adam Button at www.forexlive.com.

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