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PCE Report Today: Inflation Likely Sped Up in December, Based on Fed's Favored Gauge
2 hours ago
PCE Report Today: Inflation Likely Sped Up in December, Based on Fed's Favored Gauge
By WS Staff
The Federal Reserve's preferred inflation measure is expected to show prices rises accelerated slightly in December, moving further away from the central bank's 2% target.
The personal-consumption expenditures, or PCE, price index likely rose 2.6% over the past 12 months through December, according to economists polled by The Wall Street Journal. ... The rate was 2.4% as of November. ... Prices are forecast to have risen 0.3% in December on-the-month, up from 0.1% in November.
Core PCE, which excludes volatile food and energy prices, rose 2.8% year-on-year, the economists forecast, in line with November's reading. ... They see core PCE up 0.2% from November, marking a slight acceleration on that month's 0.1% rate.
Forecasts were made ahead of the first estimate of fourth-quarter gross domestic product, out Thursday. The GDP report can be used to work out the likely monthly PCE reading: It indicated the core index rose last quarter at a 2.5% seasonally adjusted annual rate. ... The PCE report is due at 8:30 a.m. ET Friday.
Already a WSJ subscriber? Sign in
PCE Report Today: Inflation Likely Sped Up in December, Based on Fed's Favored Gauge
By WS Staff
The Federal Reserve's preferred inflation measure is expected to show prices rises accelerated slightly in December, moving further away from the central bank's 2% target.
The personal-consumption expenditures, or PCE, price index likely rose 2.6% over the past 12 months through December, according to economists polled by The Wall Street Journal. ... The rate was 2.4% as of November. ... Prices are forecast to have risen 0.3% in December on-the-month, up from 0.1% in November.
Core PCE, which excludes volatile food and energy prices, rose 2.8% year-on-year, the economists forecast, in line with November's reading. ... They see core PCE up 0.2% from November, marking a slight acceleration on that month's 0.1% rate.
Forecasts were made ahead of the first estimate of fourth-quarter gross domestic product, out Thursday. The GDP report can be used to work out the likely monthly PCE reading: It indicated the core index rose last quarter at a 2.5% seasonally adjusted annual rate. ... The PCE report is due at 8:30 a.m. ET Friday.
Already a WSJ subscriber? Sign in