- Fed’s “Favorite” Inflation Indicator Explodes At Fastest Rate Since 1992 As Incomes Crash By Record
by Tyler Durden, https://www.zerohedge.com/
While Americans’ income and spending is normally the headline-making data, this morning’s release will focus all eyes on The Fed’s favorite inflation indicator – the PCE Deflator. The headline PCE Deflator rose 3.6% YoY, the fastest rate or price increases since 2008.
Even more notably, the Core PCE Deflator soared 3.1% YoY (hotter than the +2.9% YoY expected) and the hottest print since May 1992…
However, back in income and spending land, the picture was very mixed with incomes crashing 13.1% MoM and spending rising just 0.5% MoM after the stimmies run dry …