U.S. Core PCE Rises 0.2% in July, Meeting Expectations

IconCryptoNewsTerminal Staff30 Aug, 2024

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U.S. Core PCE Rises 0.2% in July, Meeting Expectations

The U.S. Bureau of Economic Analysis (BEA) reported that the core personal consumption expenditures (PCE) price index increased by 0.2% month-over-month in July. This gain aligns with economists' expectations of a 0.2% rise, as surveyed by Dow Jones. The core PCE price index, excluding volatile food and energy prices, serves as the Federal Reserve's primary inflation gauge. This development follows the June report, where the core PCE price index saw a 0.3% increase. The latest data indicates a slight moderation in inflationary pressures, albeit remaining elevated. The Federal Reserve closely monitors the core PCE price index to inform its monetary policy decisions, particularly regarding interest rates.

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