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But we saved everything 🙂.
The U.S. Personal Consumption Expenditures (PCE) index increased by 0.4% in February, up from a 0.3% gain in January. Economist Diane Swonk noted that the annual rate held steady at 2.8% year-over-year for February.
Measures of inflation momentum accelerated, with the 3-month and 6-month annualized rates climbing to 4.1% and 3.4% respectively, compared to 3.5% and 3.2% in January.
Swonk recently commented on disruptions to global supply chains from the Iran conflict, noting the impact on U.S. freight costs in a prior report. She has also highlighted the increasing global financial presence of Gulf countries and the role of their sovereign wealth funds in global finance. These themes have shaped her recent economic commentary.