Federal Reserve’s Preferred Inflation Gauge Mixed Amid Higher Energy, Food Prices

Published on July 26, 2024

The Federal Reserve’s preferred inflation gauge was mixed last month, higher energy and food prices. The latest inflation measurement comes as the central bank prepares for a much-anticipated policy meeting next week. The personal consumption expenditure (PCE) price index eased to 2.5 percent in June, down from 2.6 percent in May, according to the Bureau of Economic Analysis (BEA). This was in line with the consensus estimate. On a monthly basis, the PCE jumped by 0.1 percent, up from zero percent in the previous month. Core PCE, which omits the volatile food and energy components, was unchanged at 2.6 percent, slightly higher than the market projection of 2.5 percent....

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