Keeping you up to date on the latest data releases.
- Personal Consumption Expenditure
The Personal Consumption Expenditure (PCE) ticked up at an annualized rate of 0.8 percent in December, following two consecutive (energy price induced) declines. On a year-over-year basis, PCE inflation has started to decelerate in recent months—down from a recent high of 2.9 percent in September to 2.4 percent as of December. Excluding food and energy prices, the “core” PCE price index rose 1.9 percent in December, following upwardly revised, but still soft, readings in October and November. Still, on the fourth quarter as a whole, the core PCE rose just 1.1 percent, a significant slowdown from its year-over-year growth rate of 1.8 percent. The market-based core PCE—a subgroup of the core index that only excludes most imputed prices—rose 2.1 percent in December, following a 1.5 percent increase in November. The 12-month growth rate in the market-based core index edged up 0.1 percentage point to 1.9 percent in December.