THE CORE PCE HAS NOT YET ACCELERATED, BUT THE SPREAD OF INFLATION HAS FORCED THE FED TO TEMPORARILY SHUN EAGLES

Carson broken down the projects according to 178 PCEs, 54 per cent of the projects in July increased by more than 3 per cent over the same period, up from 47 per cent a year earlier and 24 per cent at the end of 2019. This is a proliferation in terms of the number of projects, not the inflation rate in terms of consumption weights; 178 calibres are derived from the PCE subsystem of the Federal Reserve of Dallas. As a result, the official core PCE remained at 3.3 per cent and could be established in parallel with the expansion of the range of price increases: some high-weight items had cooled the average, but more subcategories had remained relatively fast. The Federal Reserve of Dallas ended in July with an average PCE of 2.3 per cent, also indicating that the deterioration of inflation has not yet fully translated into an acceleration of the weighted target. Kim Xian