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<ul><li><a href="https://www.forexlive.com/news/us-november-pce-core-inflation-47-vs-47-expected-20221223/" target="_blank" rel="follow">Prior </a>was +4.7%</li><li>PCE core MoM +0.3% vs +0.3% expected</li><li>Prior MoM +0.2%</li><li>Headline inflation PCE +5.0% vs +5.5% prior </li><li>Deflator MoM +0.1% vs +0.1% prior</li></ul><p>Consumer spending and income for November:</p><ul><li>Personal income +0.2% vs +0.2% expected. Prior month  +0.4%</li><li>Personal spending -0.2% vs -0.1% expected. Prior month +0.1% </li><li>Real personal spending -0.3% vs +0.0% prior</li></ul><p>Under the covers of this report, the Fed might not like seeing services inflation up 0.7% m/m. That's counteracted by a 1.0% decline in goods prices, including -2.3% in durable goods. Powell has expressed worry about core services inflation remaining high and said that's why they plan to hike to 5.00-5.25% and stay there.</p><p>The US dollar is a tad softer on the data, perhaps as the market focuses on the softening spending metrics as a forward-looking indicator of a weakening economy.</p>

                This article was written by Adam Button at www.forexlive.com.