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The Fed’s favorite measure of inflation, US core PCE came in at 4.9% YoY as expected, down from 5.2% YoY the previous month and inspiring those callin
[See the full post at: U.S. Savings Rate Falls to Lowest Since 2008 with Core PCE at+4.9% in April]Dallas Fed trimmed mean PCE 3.0%, Unchanged from last month
The trimmed mean PCE is an alternative measure of core inflation that throws out the highs and the lows from each month and calculates the price of the rest for the month and then annualizes the rate. The thought is it filters out the big moves that can influence the overall index.
Looking at recent data, the trimmed mean peaked at 6.3% in January.
February came in at 4.1% and March came in at 3.0% which was equaled this month.
The trend is sideways from last month but not moving higher.Consumer confidence falls in May with inflation fears weighing
No surprise there / except was surprised no way near as expected – seems to be on hope that worse is over,
The Conference Board’s Consumer Confidence Index dipped to 106.4 in May (consensus 103.7) from an upwardly revised 108.6 (from 107.3) in April. In the same period a year ago, the index stood at 120 !
The Present Situation Index fell to 149.6 from an upwardly revised 152.9 (from 152.6).
The Expectations Index dropped to 77.5 from an upwardly revised 79.0 (from 77.2).
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