CPI is published earlier and gets more attention, but the Fed watches PCE more closely. The two measures differ in weighting and coverage, and a single month can be distorted by energy, used cars, or other volatile components.
Look at the trend, core components, wages, and shelter rather than one headline number. One print is noise; a sequence is a signal. That distinction matters when markets react within minutes of a release.
These are personal notes, not investment advice.