Core PCE up 2.6% in July, slightly below forecasts, bolstering Fed rate cut prospects.
Sectors & Industries
September 3, 2024
In July 2024, the U.S. core PCE price index, the Federal Reserve's preferred measure of underlying inflation, rose 0.2% month-over-month, matching both market expectations and June's increase.
Year-over-year, core PCE prices rose by 2.6%, slightly below the forecasted 2.7%, supporting the case for potential rate cuts by the Federal Reserve.
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