T-Mobile US, Inc. Stock Outlook (TMUS).

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The Fed’s preferred inflation indicator, the Personal Consumption Expenditures Price Index, will be released by the BEA this morning. The index differs from the better-known CPI because its composition changes more frequently and is therefore faster at reflecting price fluctuations in real time. In the most recent report, through October, PCE inflation was 2.3% year-on-year (by comparison, inflation in the most recent CPI report, through November, was 2.7%). The core personal consumption expenditures index, which strips out volatile food and energy prices, rose 2.8% in the last month. Our PCE outlook calls for 2.5% for the headline number and 2.9% for the core reading, as persistent inflation in some services remains a challenge. Overall, inflation in this cycle peaked in the summer of 2022 and has been on a fairly consistent downward journey since then. We track 20 inflation measures on a monthly basis. On average, they note that prices are rising at a rate of 2.4% year-on-year, compared to 2.3% a month ago. We note that the numbers are somewhat volatile and distorted by fluctuations in the producer price inflation report. Focus on core inflation—which we get by averaging core CPI, market-based personal consumption expenditures (PCE) excluding food and…