01:30 PM BST, United States - Inflation Data for May:
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Core PCE Price Index: actual 2.7% YoY; forecast 2.6% YoY; previous 2.6% YoY;
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Core PCE Price Index: actual 0.2% MoM; forecast 0.1% MoM; previous 0.1% MoM;
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PCE Price index: actual 2.3% YoY; forecast 2.3% YoY; previous 2.2% YoY
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Real Personal Consumption: actual -0.3% MoM; previous 0.1% MoM;
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Personal Spending: actual -0.1% MoM; forecast 0.1% MoM; previous 0.2% MoM;
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Personal Income: actual -0.4% MoM; forecast 0.3% MoM; previous 0.7% MoM;
In line with Fed's recent statemetns and projections, Core PCE inflation index ticked up above the consensus estimate, living up to the promise of "meaningful amount of inflation" in the following months. A drop in real consumption might work as a counterbalance for a hawkish PCE reading, although it is unlikely that Fed will come in with early cuts to halt spending declines amid upward PCE pressures.
Source: xStation5
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