The U.S. personal consumption expenditures index rose moderately in June by 0.2% month-on-month, and the year-on-year increase slowed to 3%; while the core PCE inflation rate preferred by the Federal Reserve also rose by 0.2% month-on-month, and slowed to 4.1% year-on-year.
Updated July 30, 2023 at 22:00 CST
U.S. costs of goods and services rose a modest 0.2 percent in June as inflation slowed again, but another measure of prices favored by the Fed improved less.
Economists surveyed by The Wall Street Journal had expected personal consumption expenditures (PCE) to rise 0.2%.
Price growth over the past year slowed to 3% from 3.8% and hit the weakest level since October 2021, the U.S. government said on Friday.
Meanwhile, so-called core PCE inflation also rose 0.2 percent last month. Core inflation, which strips out volatile food and energy costs, is seen by the Fed as a better predictor of future inflation trends.
…
U.S. costs of goods and services rose a modest 0.2 percent in June as inflation slowed again, but another measure of prices favored by the Fed improved less.
Economists surveyed by The Wall Street Journal had expected personal consumption expenditures (PCE) to rise 0.2%.
Price growth over the past year slowed to 3% from 3.8% and hit the weakest level since October 2021, the U.S. government said on Friday.
Meanwhile, so-called core PCE inflation also rose 0.2 percent last month. Core inflation, which strips out volatile food and energy costs, is seen by the Fed as a better predictor of future inflation trends.
Core inflation over the past year slowed to 4.1% from 4.6% in the previous month, the lowest in more than two years but still well above the Fed’s 2% target.
(This article is translated from MarketWatch. MarketWatch is operated by Dow Jones, the parent company of The Wall Street Journal, but MarketWatch is independent of Dow Jones Newswires and The Wall Street Journal.)
2023-07-30 14:00:00
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