As inflation rose, the Fed paid more attention to the CPI, but we suspect as the year progresses, and price pressures ease, officials will revert to the PCE deflator, which it targets.

Source: https://seekingalpha.com/article/4579764-week-ahead-market-seeks-proper-balance-after-exaggerating-in-both-directions?source=feed_all_articles

Inflation, according to the GDP deflator (the broadest and most inclusive measure of inflation), was also a bit higher than expected: 4.2% vs 4.0% (annualized).

Source: https://seekingalpha.com/article/4607491-its-a-2-percent-growth-world?source=feed_all_articles

There were several points in the two years prior to the pandemic when the pace of wage growth was this fast or higher, yet the core PCE deflator averaged less than 2.0 percent for this two-year period.

Source: https://www.counterpunch.org/2023/03/20/how-can-inflation-be-out-of-control-with-3-6-percent-wage-growth/