News about inflation

Core PCE inflation came in above the Fed's target for the 4th straight month. But it moderated from Q1 and the elevation was entirely due to imputed portfolio fees resulting from the strong stock market. Annual rates: 1 month: 3.0% 3 months: 3.5% 6 months: 3.2% 12 months: 2.8% pic.twitter.com/FHtSAVejI6

John Williams (FOMC vice chair) dwells on how the recent inflation slowdown has been a global phenomenon By one measure, inflation is "nearly the same" in the U.S. as Sweden and Europe. www.newyorkfed.org/newsevents/speeches/2024/wil240530 pic.twitter.com/xLKX7sLtQi

Per the Bloomberg table below, this morning's US economic numbers, including what is widely seen as the Federal Reserve's preferred inflation metric, were in line with the consensus forecasts…with one exception — that of consumer spending which came in weaker than expected. pic.twitter.com/6iK4FuE2Rr

Soft evidence on inflation: the Fed’s latest Beige Book says “Prices increased at a modest pace.” In Jan. 2020 it said “Prices continued to rise at a modest pace.” Consistent with the view that the inflation bump is over.