ACTV - Fed's Wait And See About Rate Cuts Supported By Highest Since July 6-Month Core PCE And Core Services PCE Inflation
2024-03-30 02:45:00 ET
Summary
- The core PCE price index, the inflation index that the Fed is focused on and refers to all the time, was revised up for January to an annualized month-to-month growth rate of 5.6%.
- In February, on top of those upwardly revised figures for January, the core PCE price index rose by 3.2% annualized from January (+0.28% not annualized), according to the Bureau of Economic Analysis on Friday.
- In February, the reading of core services rose by 2.9% annualized, and the 6-month reading rose by 4.25% annualized, the highest since June 2023.
And there were big upward revisions of the already hot readings for January.
The core PCE price index, the inflation index that the Fed is focused on and refers to all the time, was revised up on Friday for January to an annualized month-to-month growth rate of 5.6% (up from the original 5.1%) on a big up-revision of the index for core services to an annualized rate of 7.9% (up from the original 7.1%). In core services is where inflation is now solidly entrenched....
Fed's Wait And See About Rate Cuts Supported By Highest Since July 6-Month Core PCE And Core Services PCE Inflation