Bloomberg Intelligence
Instant Reaction: Inflation Data
Mar 29, 2024
Economists Tom Porcelli and Sarah House react to the latest PCE data, discussing personal spending exceeding forecasts, implications on inflation rates, challenges in achieving the 2% PCE target, Chairman Powell's stance on inflation, services sector improvements, and analysis of hiring data and market reactions.
29:40
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Quick takeaways
- Inflation data for February reveals a 2.8% year-over-year rate, emphasizing factors affecting prices like goods and services.
- Labor market growth prompts concerns about sustainability in consumer spending, necessitating real income stability for economic health.
Deep dives
Inflation Data Analysis
The podcast delves into the recent inflation data regarding the Personal Consumption Expenditures Price Index for February, highlighting key figures such as a 2.8% year-over-year inflation rate, the core deflator at 2.8%, and personal income deflator at 3.1%. This data compares economists' expectations and discusses factors impacting inflation like goods and service prices, energy costs, and food prices.
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