June core PCE in line with expectations; annual rate slows

28 July 2023

 

Summary: US core PCE price index up 0.2% in June, in line with expectations; annual rate slows from 4.6% to 4.1%; Barclays: goods’ prices main factor behind reduced price pressures; short-term Treasury yields fall; Fed rate-cut expectations for 2024 firm slightly. 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...

read full story