US PCE rises 0.2pc in July
By Iain Gilbert
Date: Friday 30 Aug 2024
(Sharecast News) - The Federal Reserve Bank's preferred inflation gauge rose in July, according to the Commerce Department, in line with preliminary estimates.
The personal consumption expenditures index increased by 0.2% month-on-month or 2.5% on a year-on-year basis, exactly in line with consensus estimates.
Stripping out volatile food and energy prices, core PCE also increased 0.2% for the month but was 2.6% higher on the year, slightly softer than the 2.7% estimate.
Reporting by Iain Gilbert at Sharecast.com
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