Keeping you up to date on the latest data releases.
- PCE Prices
The Personal Consumption Expenditures (PCE) price index increased at an annualized rate of 2.2 percent in January, after a 0.8 percent increase in December. This pulled the near term (3-month) annualized growth rate up from 0.7 percent to 1.3 percent. On a year-over-year basis, PCE was down from 2.5 percent in December to 2.3 percent in January. “Core” PCE—which excludes food and energy prices—was up 2.2 percent in January as well, indicating that there was not much upward pressure on the index from food and energy prices in January. Core PCE is up 1.9 percent from last year. The market-based core PCE (which excludes most imputed prices) was up 2.0 percent in January after a 1.9 percent increase in December, and the 12-month growth rate stayed at 1.9 percent.