45 days ago • Posted by Ajmir Omid
Fed's PCE softer than estimates #inflation #trading
Equity indices spiked after softer inflation data. Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 6.3% on a yearly basis in May. The Core PCE Price Index, the Federal Reserve's preferred gauge of inflation, declined to 4.7% in the same period from 4.9% in April. This print came in softer than expected (4.8%) and is the third favorable inflation reading in the last week.