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Regional Fed PCE Measures Echo Slowing Disinflationary Progress

US DATA
  • Cleveland Fed median PCE: accelerated from 0.30 to 0.34% M/M in Sept, its fastest since April.
  • Dallas Fed trimmed mean PCE: accelerated from 2.8% to 4.0% annualized in Sept, its fastest since April.
  • In Y/Y terms, the Cleveland Fed’s median dipped a tenth to 4.4% Y/Y whilst the Dallas Fed’s trimmed mean eased from 3.91% to 3.85% Y/Y, the lowest since Mar 2022 and Jan 2022 respectively.

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