U.S Core PCE Price Index (MoM)ECONOMICS:USCPCEPIMM
Core PCE prices in the US, which exclude food and energy,
rose by 0.2% from the previous month in December of 2023, aligned with market estimates, and picking up slightly from the 0.1% increase in November.
From the previous year,
Core PCE prices edged 2.9% higher,
undershooting market estimates of 3% to mark the lowest reading since February 2021.
The data extended the disinflation trend in prices measured by the Federal Reserve’s preferred gauge, consistent with previous signals of rate cuts to be delivered this year. Regarding the whole national PCE that includes energy and food, prices rose by 0.2% from the prior month and 2.6% from the prior year, consistent with expectations.
Prices for goods rose by less than 0.1% from 2022, while those for services remained elevated at 3.9%.
source: U.S. Bureau of Economic Analysis