Core PCE up 0.2% in July; services inflation “sticky”

31 August 2023

 

Summary: US core PCE price index up 0.2% in July, in line with expectations; annual rate ticks up from 4.1% to 4.2%; ANZ: services inflation “sticky”; short-term Treasury yields decline a little; Fed rate-cut expectations for 2024 firm. One of the US Fed’s favoured measures of inflation is the change in the core personal consumption expenditures (PCE) price index. After hitting the Fed’s target at the time of 2.0% in...

read full story