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US June PCE Inflation Rises 3.7% From Year Earlier, Matching Estimates
Summary
- The Bureau of Economic Analysis said the June PCE index rose 3.7% from a year earlier.
- The June core PCE index rose 3.3% from a year earlier, matching economists’ forecasts.
- The core PCE index is a key gauge the Federal Reserve watches before making policy decisions, including on its benchmark interest rate.
Forecast Trend Report by Period
U.S. core personal consumption expenditures inflation matched market expectations in June.
The Bureau of Economic Analysis said July 30 that the June PCE price index rose 3.7% from a year earlier. It fell 0.1% from the previous month.
The core PCE index, which excludes food and energy, increased 3.3% from a year earlier, matching economists’ forecasts compiled by Dow Jones.
On a monthly basis, the core index rose 0.1%, undershooting the market estimate of 0.2% by 0.1 percentage point.
The core PCE index measures prices paid by U.S. residents for goods and services excluding energy and food. It is a key gauge the Federal Reserve watches before making policy decisions, including on benchmark interest rates.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul