- Prior was +4.8% y/y
- Core m/m +0.1% vs +0.3% expected
- PCE price index -0.1% vs +1.0% prior
- Price index y/y +4.6% vs +6.8% prior
Consumption:
- Personal income +0.2% vs +0.6% exp
- Real personal consumption +0.2% vs -0.4% prior
- Consumption adjusted +0.1% vs +0.4% expected
- Prior consumption +1.1%
Consummption was on the soft side but all the focus is on the misses on core and headline inflation . That's more evidence -- along with CPI -- that prices weren't running as hot in July. There will be more of that in August.
The pricing for 75 bps is too high.
