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SP500 falls to PCE
US PCE data for April will be released today at 2:30 p.m.
The release of US PCE inflation data for April is the key data of the day. The report will be published at 2:30 p.m. and will also include monthly data on personal income and expenses. The data is expected to show no change in the annual pace of headline and core inflation. However, even if the data surprises moderately, it may not have much impact on the path of Fed rates. Let's take a quick look at what to expect from today's data!
What to expect from the report?
US April PCE data is expected to show headline and core inflation metrics remaining unchanged at March levels. Furthermore, the pace of monthly price increases is expected to be the same as the previous month. That said, inflation is expected to remain above the Federal Reserve's 2% target. If US inflation remains at its current monthly pace, it will miss central banks' target this year, and will likely accelerate again in the second half of 2024 due to base effects.
Report for the month of April
General (annual). Expected: 2.7% year-on-year. Previous: 2.7%.
General (monthly). Expected: 0.3% month-on-month. Previous: 0.3%.
Underlying (annual). Expected: 2.8% year-on-year. Previous: 2.8%.
Underlying (monthly). Expected: 0.3% month-on-month. Previous: 0.3%.
Personal income. Expected: 0.3% month-on-month. Previous: 0.5%.
Personal expenses. Expected: 0.3% month-on-month. Previous: 0.8%.