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NY Fed's MCT Saw Modest Decline In Inflation Persistence In Feb

US DATA
  • NY Fed updates its Multivariate Core Trend (MCT) for the Feb'23 PCE data.
  • "The MCT declined slightly to 4.5 percent in February from 4.6 percent in January (the value for January was itself revised down from 4.8 percent)". It's a similar decline in the standard 12-mth core to 4.6% from 4.7% Y/Y."
  • "The sectoral composition remained stable with the contribution of core goods, core services excluding housing, and housing not too different from their values in October 2022."

More here: https://libertystreeteconomics.newyorkfed.org/2023/04/mct-update-inflation-persistence-declined-modestly-in-february/



Source: NY Fed

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