- Prior was +5.4% y/y (revised to +5.3%)
- PCE core MoM +0.3% vs +0.3% expected
- Prior MoM +0.4%
- Deflator YoY +6.6% vs +6.4% prior (revised to +6.3%)
- Deflator MoM +0.9% vs +0.6% prior
Consumers spending and income for March:
- Personal income +0.5% vs +0.4% expected. Prior month +0.5%
- Personal spending +1.1% vs +0.7% expected. Prior month +0.2%
- Real personal spending +0.2% vs -0.4% prior
There's lots to like here. Personal spending was strong, highlighting the strength in the consumer. The slight beat on core inflation will also add life to the 'peak inflation ' argument, though the deflator rising 0.9% in a month doesn't help.