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Market Review: Personal Income & Expenditures - PCE Deflator

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D. H. Taylor
(@dhtaylor)
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Joined: 2 years ago
Posts: 1086
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The Fed's favorite inflation indicator, the PCE Deflator, just printed its highest reading in 40 years. Personal incomes & expenditures printed this morning with advances there. However, the real headline came from PCE Deflator which came in at 6.59%, the highest reading in many years. Inflation fears, or course, have been driving the markets and for the month the Dow dropped 9.5% making April the worst month in two years.

I believe that we will start to see moderation over the next couple of months since the year-over-year change is driven by the stimulus checks received last year.  Now that those funds have been spent, spending will decrease accordingly, and prices pressures will abate.


   
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