When the personal consumption expenditures (PCE) data came in on March 31, many found it encouraging.
"Encouragingly, the headline and core PCE price indexes came in a bit softer than forecast, both rising 0.3% in February, and this allowed the year-on-year pace for both to decelerate further – 5% for overall consumer inflation and 4.6% for core PCE price inflation," Nationwide Chief Economist Kathy Bostjancic wrote in emailed remarks.
Good news, certainly, though more nuanced than a thumb up or down.
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