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Very Good Economic News [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2023-12-22
A summary from MarketWatch:
PCE* inflation index drops 0.1% in November. First decline since April 2020 Core PCE climbs 0.1% in November, matches Wall Street forecast 12-month increase in main PCE index slows to 2.6% from 2.9%. Lowest rate since early 2021 Core PCE price increase in past year slows to 3.2% from 3.4% in prior month Consumer spending rises 0.2% in November Personal incomes advance 0.4% in November
*PCE — Personal Consumption Expenditures Price Index
The PCE price index, released each month in the Personal Income and Outlays report, reflects changes in the prices of goods and services purchased by consumers in the United States.
The core PCE price index measures the prices paid by consumers for goods and services without the volatility caused by movements in food and energy prices to reveal underlying inflation trends.
The PCE differs from the Consumer Price Index (CPI) in several ways and is the preferred measure of inflation for the Federal Reserve. Among those differences, the CPI measures the change in the out-of-pocket expenditures of all urban households and the PCE index measures the change in goods and services consumed by all households, and nonprofit institutions serving households.
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