The Federal Reserve’s preferred inflation gauge showed price pressures remained elevated in July.
The US Personal Consumption Expenditures (PCE) price index rose 0.2% month-over-month in July, exceeding expectations of a 0.1% increase. On an annual basis, headline PCE inflation reached 3.7%, slightly above forecasts of 3.6%.
The core PCE index, which excludes food and energy prices, also increased 0.2% during the month. Core inflation remained at 3.3% year-over-year, well above the Federal Reserve’s 2% target.
The stronger-than-expected inflation data has increased uncertainty around the Fed’s next policy decisions. Attention now shifts to the Federal Reserve’s annual Jackson Hole Economic Symposium, where central bank officials are gathering to discuss the economic outlook. The focus will be Federal Reserve Chair Kevin Warsh’s policy speech on Friday.
The US Personal Consumption Expenditures (PCE) price index rose 0.2% month-over-month in July, exceeding expectations of a 0.1% increase. On an annual basis, headline PCE inflation reached 3.7%, slightly above forecasts of 3.6%.
The core PCE index, which excludes food and energy prices, also increased 0.2% during the month. Core inflation remained at 3.3% year-over-year, well above the Federal Reserve’s 2% target.
The stronger-than-expected inflation data has increased uncertainty around the Fed’s next policy decisions. Attention now shifts to the Federal Reserve’s annual Jackson Hole Economic Symposium, where central bank officials are gathering to discuss the economic outlook. The focus will be Federal Reserve Chair Kevin Warsh’s policy speech on Friday.
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Investing in complex securities involves risk. You may lose some or all of your invested capital.
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Investing in complex securities involves risk. You may lose some or all of your invested capital.
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