Stock forecasts of Axon Enterprise, Inc. (AXON).

Resume

The Federal Reserve's favorite inflation indicator, the PCE Price Index, will be released by the BEA this morning. The index differs from the better-known consumer price index because its composition is changed more often and therefore reflects the impact of real-time price fluctuations more quickly. In the most recent report, through February, PCE inflation was 2.5%; By comparison, the last CPI report through March had inflation of 3.5%. The Core PCE, which excludes volatile food and energy prices, was 2.8% last month, up from 2.9% the previous month. Our PCE forecasts call for 2.7% on the bottom line and 2.8% on the bottom line – roughly in line month-over-month, as progress toward the Fed's 2% target becomes more difficult as the target approaches. Overall, inflation in this cycle peaked in the summer of 2022 and has been trending downward until recently reaching a plateau. We monitor twenty inflation measures every month. On average, they indicate that prices are rising 2.3% year over year, an increase of 30 basis points compared to a month ago. The figures are somewhat distorted by the ultra-low figures within the Producer Price Intermediate Goods category, which are down 7% and may indicate a easing of prices across the inflation spectrum in the coming months. Focusing on core inflation – which we obtain by averaging the Core CPI, market-based PCE Ex-Food & Energy (from the GDP report), the five-year forward inflation rate and