Core Inflation Holds at 3.3% as July PCE Gains Cruise On
TL;DR Summary
The Fed’s preferred inflation gauge, the PCE index, rose 0.2% in July, with core PCE up 0.2% to 3.3% year-over-year (overall PCE at 3.7%). Despite softer goods, spending and incomes rose, while energy prices fell and services costs advanced. Markets trimmed some gains as yields moved higher. With no August FOMC meeting, traders eye a potential year-end rate hike—most likely December—while investors await Jackson Hole remarks from Chairman Kevin Warsh.
- Fed’s preferred inflation gauge shows core prices rose 3.3% annually in July CNBC
- Consumers pulled back on spending in July in the face of continuing price pressures CNN
- Dollar nudges higher ahead of US inflation data; Aussie gains on rate bets Reuters
- Euro Forecast: Will Core PCE Tip the Scales for the Fed? FOREX.com
- Inflation Remains Elevated as Energy Costs Push on Prices The New York Times
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