On August 26, the U.S. Department of Commerce reported that the Personal Consumption Expenditures (PCE) price index rose 3.7% in July compared to the same month last year. This marks a 0.2% increase from the previous month.
These figures slightly surpassed the expert forecasts compiled by Dow Jones, which were each 0.1 percentage points lower.
Excluding food and energy, the core PCE price index increased by 3.3% year-over-year and 0.2% month-over-month, aligning with expert expectations.
The PCE price index reflects the prices of goods and services consumed by households.
The Federal Reserve uses this index as a benchmark to assess its monetary policy goal of achieving a 2% inflation rate.
* This article has been translated by AI.
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