PCE inflation rate and other economic data this week

Ahead of market closure for the long holiday weekend, Wall Street will release a number of key financial and economic reports.

First of all, the data on the personal consumption expenditures price index (PCE) will be presented to investors. The U.S. Federal Reserve (Fed) considers this index one of the main inflation measures. According to Bloomberg consensus forecast, in November, the PCE index will rise by 0.1% month-on-month. In October, it rose by 0.3%. However, it’s likely to decline by 0.5% to 5.5% year-on-year. 

Core PCE, excluding food and energy costs, is expected to increase by 0.2% month-on-month, just as in October. On an annualized basis, it’s likely to decline slightly from 5% to 4.7%.

In addition to the PCE index, the housing data including construction and sale statistics will be released in December. The economic calendar will also present information on the final GDP’s reading for the third quarter and the Conference Board’s gauge of consumer confidence.