Oct Core PCE +0.27% MoM is +0.23% ex-magazines. Affirms inflation "falling like a rock" and Fed stays dovish

Today's Oct Core PCE came in at +0.27% MoM, slightly better than consensus of +0.28%. The YoY came in at +2.80% YoY. The details of the report show inflation is far weaker than Core PCE suggests:

the top 3 contributors to Core PCE rising in Oct:- Housing +0.07% contribution to growth- Financial services +0.05%- Magazines + Stationery +0.04% Magazines? Why would paper products and magazines be the 3rd largest contributor to inflation. In fact, the monthly rise of +6....

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