The PCE price index is a measure of goods and services purchased by consumers and non-profit institutions serving consumers.
In April, Personal Consumption Expenditures prices decrease by -0.5%, but food prices increase by 2.4%! 😲
Energy prices within the PCE price index decreased by -9.2%, which offset the increase of the food prices by 2.4%.
The Federal Reserve targets 2% PCE annual rate as consumer inflation affects all Americans, the poor, middle, and rich!
The Fed does not watch the price index of assets owned by the elites. 🐲
They ignore the enormous bubbles created in real estate, corporate bonds, and stocks.
The bubble will pop in the COVID-19 recession. 🌚
We are in a deflationary economic environment, where prices overall are falling!
Source: Bureau of Economic Analysis, U.S. Department of Commerce, updates the PCE price index one month behind the present time. The last update was today, on May 29th, 2020, for April data.