Core PCE inflation over the last 3 months was a 4.4% annual rate. That is higher than any time from Nov 1990 to Mar 2021.
Yes, there were special factors, seasonal issues, etc. But there were also special factors & seasonal issues at various times in those previous 30 years.
🇺🇸#Inflation: Moderate monthly momentum & not as hot as feared in March ✅
🟡Headline PCE prices +0.32% m/m
🟡Core PCE prices: +0.32% m/m
🎯Moving toward 2.5% inflation plateau:
⤴️Headline inflation +0.2pt to 2.7%
↔️Core inflation flat 2.8%: low since Mar '21 pic.twitter.com/L4EouLOlN8