Inflation measure closely watched by the Fed rises 2.5% in June
https://www.foxbusiness.com/economy/inflation-measure-closely-watched-fed-rises-2-5-june
by miso25
Inflation measure closely watched by the Fed rises 2.5% in June
https://www.foxbusiness.com/economy/inflation-measure-closely-watched-fed-rises-2-5-june
by miso25
1 comment
An inflation measure closely watched by the Federal Reserve **eased** slightly in June, even as high prices continued to weigh on millions of Americans.
The personal consumption expenditures (PCE) index showed that consumer prices rose 0.1% from the previous month, according to the Labor Department. On an annual basis, prices climbed 2.5% — down slightly from the 2.6% reading recorded the previous month.
The figures were both in line with estimates from economists surveyed by LSEG.
“Overall, it’s been a good week for the Fed,” said Chris Larkin, managing director of trading and investing at E*Trade. “The economy appears to be on solid ground, and PCE inflation essentially remained steady. But a rate cut next week remains a longshot.”