Core Insights - The core Personal Consumption Expenditures (PCE) inflation indicator favored by the Federal Reserve exceeded expectations, with a 0.4% increase in December, marking the largest rise in nearly a year [1][9] - Year-over-year core PCE rose to 3% in December, up from 2.8% at the beginning of 2025 [1][12] Inflation Data - December PCE price index increased by 2.9% year-over-year, compared to a previous value of 2.8% [10] - The month-over-month PCE price index rose by 0.4%, matching expectations and the previous month's figure [11] - Core PCE price index increased by 3% year-over-year, surpassing the expected 2.9% [12] - Month-over-month core PCE price index also rose by 0.4%, in line with expectations [13] Economic Indicators - The SuperCore PCE, which excludes certain volatile items, increased by 0.3% month-over-month and 3.3% year-over-year, remaining stable compared to the previous year [3][16] - Service prices continue to drive inflation, with notable increases in legal service prices observed in January [3][16] Consumer Spending and Income - Personal consumption expenditures (PCE) rose by 0.4% month-over-month in December, consistent with expectations [20] - Actual personal consumption expenditures increased by 0.1% month-over-month, down from 0.3% previously [20] - Personal income rose by 0.3% month-over-month, slightly below the expected 0.4% [20] Market Reaction - Following the release of PCE data, U.S. stock futures declined, with the Nasdaq futures down by 0.33%, S&P 500 futures down by 0.24%, and Dow futures down by 0.18% [22] - Market participants continue to bet that the Federal Reserve will not lower interest rates before June [22]

Steve Leeman has that story. Hey, Steve. >> Yeah, Mike.Some breaking or bad breaking inflation data from the government. Not about the levels, but about the release of data. We just learned from the BLS that the October and November PPI or wholesale inflation reports will now be delayed until January 14th and released with the December data when it comes out.This is longer than many expected the BLS to take to catch up. No, November PPI was originally scheduled for December 11th. New dates for the October a ...