Inflation Is in the Revisions? What Stands Out Once Again in the PCE Price Index? Sharp Up-Revisions of Prior Month’s Inflation

Up-revisions pushed the 12-month core PCE price index for February to +3.0%, and the 6-month index to +3.4%, worst since July 2023. But March was benign? By Wolf Richter for WOLF STREET. The inflation measure released today for March – the PCE price index favored by the Fed as yardstick for its…