The personal consumption expenditures (PCE) price index excluding food and energy increased 0.1% for the month, lower than the expected 0.2% gain.
An economic indicator the Federal Reserve favors as an inflation gauge rose less than expected in August, showing that the central bank's fight against higher prices is making progress
The personal consumption expenditures price index excluding food and energy increased 0.1% for the month, lower than the expected 0.2% gain from the Dow Jones consensus of economists, the Commerce Department reported Friday. On a 12-month basis, the annual increase for core PCE was 3.9%, matching the forecast.
Along with the modest inflation gain, consumer spending rose 0.4% on a current-dollar basis. That was down sharply from 0.9% in July. In real terms, spending was up just 0.1% after rising 0.6% in July.This is breaking news. Please check back here for updates.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inflation ticked up slightly to 3.5% in August in Fed’s preferred gaugeInflation ticked up to 3.5% for the year ending in August, as measured by the personal consumption expenditures price index, the gauge favored by the Federal Reserve.
Read more »
Fed's Goolsbee: Fed could return inflation to target without a recessionThe Federal Reserve (Fed) will return inflation to target and has a chance to do something 'rare' by accomplishing that without a recession, Chicago F
Read more »
Bond yields slip ahead of PCE dataBond yields eased Friday ahead of data that could show an inflation gauge favored by the Federal Reserve declining to its lowest rate in two years.
Read more »
USD/JPY discovers support near 148.50 as focus shifts to US PCE inflationThe USD/JPY pair attracts bids near 148.50 and rebounds strongly in the European session. The asset finds cushion despite hopes of a stealth intervent
Read more »
PCE inflation set to fall further, easing Federal Reserve concernsThe Core Personal Consumption Expenditures (PCE) Price Index, the US Federal Reserve’s (Fed) preferred inflation gauge, will be released by the US Bur
Read more »