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FinanceUS July PCE inflation rises to 3.7%, above expectations
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The US Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, rose to 3.7% in July, surpassing economist expectations of 3.6%. Core PCE inflation, which excludes volatile food and energy prices, stood at 3.3%, marking the second highest reading since October 2024. This data indicates that US inflation remains stubbornly elevated at nearly double the Fed's 2.0% target, potentially influencing the central bank's monetary policy decisions in the coming months. The report underscores ongoing inflationary pressures in the US economy.
Source report
Breaking — The US Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, rose to 3.7% in July, surpassing market expectations of 3.6%.
- Core PCE inflation (excluding food and energy) stood at 3.3%, marking the second highest reading since October 2024.
- Inflation continues to run at nearly double the Fed's 2.0% target.
Source
KobeissiLetterWestern
Part of this Story
US July CPI Rises Modestly, Easing Fed Rate Hike Pressure