Core PCE Inflation Report Preview: US inflation and possible Federal Reserve steps – by FXstreetNews Inflation UnitedStates SEO EconomicIndicator Fed
What to expect of the Federal Reserve in the next PCE inflation report?
The annualized Core PCE Price Index for January is foreseen at 4.3%, a tad lower from the 4.4% one reported in December’22. That was the slowest annual rate of increase since October 2021. The increase in the monthly figures is mainly expected on the back of potentially robust Personal Income and Personal Spending data. The report is set to affirm that the United States consumer remains alive and kicking, having indicated previously that the economy slowed at the end of 2022.
Besides, investors will closely scrutinize the comments from Fed Governor Philip Jefferson and Cleveland Fed President Loretta Mester, especially after Mester said last week: ‘I saw a compelling economic case’ for a half-point rate rise at the last meeting.“We anticipate an above-consensus acceleration in both headline and core PCE, from 0.1% MoM and 0.3% MoM in Dec to 0.6% MoM and 0.5% MoM respectively.
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