The inflation numbers in the March PCE report
- Prior was +1.8% y/y
- PCE core -0.1% m/m vs -0.1% exp
- Prior m/m core reading was +0.2%
- PCE deflator +1.8% vs +1.9% expected
- Prior PCE deflator +2.1% y/y
The Fed's preferred measure of inflation showed prices declining and the year-over-year reading receding. Headline inflation was a tough softer than expected.
Digging deeper:
- Goods prices +0.9% y/y
- Durable goods -2.4% y/y
- Nondurables +2.6% y/y
- Services +2.3% y/y
- Food prices -0.7% y/y
- Energy prices +13.2% y/y