Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The Dallas Fed's trimmed mean PCE inflation one-month annualized rate was 3.04% in April, stepping down for the second month near 3% after running over 4% in the fall and surging to 6.29% in January.
Still, the 12-month inflation rate moved higher to 3.75% over the 12 months to April from 3.70% in March, the fastest annual gain since 1991. Officials have cited the Dallas Fed's measure as one of the best indicators of underlying inflation.
However, the Cleveland Fed's median PCE inflation rate released Friday, which last month also showed a step down in month-over-month figures, reversed course and showed a 0.46% increase from the prior month, up from 0.24% in March. The Cleveland Fed's year-over-year figure increased to 4.39% from 4.12% the prior month, the highest since 1990. Official Bureau of Economic Analysis data from the Commerce Department earlier Friday showed headline PCE inflation rising 6.3% over the year, while core PCE was 4.9%.
Source: Dallas Fed
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.