“The Fed’s preferred inflation gauge rose 5.4% in March, the highest since 1983”
March 31, 2022
“…Excluding food and energy prices, the personal consumption expenditures price index increased 5.4% from the same period in 2021, the biggest jump going back to April 1983.
Including gas and groceries, the headline PCE measure jumped 6.4%, the fastest pace since January 1982.
The core PCE increase actually was a touch lower than the 5.5% Dow Jones estimate. On a monthly basis, the gauge was up 0.4%, in line with estimates.
Surging prices dented consumer spending, which rose just 0.2% for the month, below the 0.5% estimate. Disposable personal income increased 0.4%, a touch below the 0.5% expectation, while real disposable income fell 0.2%. Savings nudged higher to $1.15 trillion, or a rate of 6.3%…”