US Core PCE comes in at 1.4% YoY. MoM Core +0.1%

The data is close to expectations. The Core PCE is a touch higher than estimate at 1.4% vs 1.3% estimate. It is also up from last month's 1.3%.  The prior month PCE change for January was revised to -0.4% from -0.5%.  WIth the rapid decline in the price of oil, the headline PCE will take some time to get back toward the 2% target of the Fed. The core PCE rising to 1.4% is a positive for inflation but is still below the 2% target for the Fed.