- Prior was +5.1% (revised to 5.2%)
- PCE core MoM +0.2% vs +0.3% expected
- Prior MoM +0.5%
- Headline PCE +6.0% vs +6.2% expected (prior +6.2%)
- Deflator MoM +0.3% vs +0.5% expected (prior +0.3%)
- Full report
Consumer spending and income for October:
- Personal income +0.7% vs +0.4% expected. Prior month +0.4%
- Personal spending +0.8% vs +1.0% expected. Prior month +0.6%
- Real personal spending +0.5% vs +0.3% prior
Expectations adjusted lower after CPI and this report shows that wasn't a fluke. The 0.2% m/m rise is right on 'par' with 2-3% inflation going forward and that's a positive development, though it's just one month and comes after +0.5% in September.
The report notes "widespread decreases in prices for durable goods" while noting that the prices for services increased 0.4% m/m led by food services, accommodations and housing. You can see the rollover in goods here while restaurants and hotels surve.
