Highlights of the March US PCE report
- Prior was 1.9% y/y
- +0.2% m/m vs +0.2% exp
- Deflator 2.0% y/y vs 2.0% expected
- Prior deflator +1.8% (revised to +1.7%)
Consumption:
- Personal income +0.3% vs +0.4% expected
- Prior personal income +0.4% (revised to +0.3%)
- Personal spending +0.4% vs +0.4% expected
- Prior personal spending +0.2%
The inflation numbers are in-line with estimates and the income number was a tad soft. The thing is, the market is laser-focused on wage inflation at the moment so that income number is a big one.
