The Core PCE Price Index, the FOMC’s favourite measure of inflation, missed by a tick at 5.2% vs 5.3% (y/y). The headline posted a steep 0.9% gain versus 0.5% (m/m) previously. This could confirm the softening seen in the CPI, and add to the “peak inflation” argument? However, the Employment Cost Index beat big time at 1.4% vs 1.1% in Q1. Over to you Mr Powell…
About the author
Having completed her five-year-long studies in the UK, Andria Pichidi has been awarded a BSc in Mathematics and Physics from the University of Bath and a MSc degree in Mathematics, while she holds a postgraduate diploma (PGdip) in Actuarial Science from the University of Leicester.