PCE report for August: Inflation slows with core running below forecast
Inflation eased again in August and moved close to the Fed's 2% annual target, the PCE index revealed. The benign inflation reading in August stemmed largely from the falling price of goods such as gas, autos and electronics. The cost of goods fell 0.2% in August and prices are down about 1% compared to a year ago.
US reports sharply lower PCE inflation for August 2024 at 2.2%
PCE inflation for goods in August 2024 was sharply lower at -0.9% compared to 0.0% in July 2024 and -0.2% in June 2024. Within goods, the durable goods showed further improvement from -2.4% to -2.2% while the inflation in non-durable goods dipped sharply by 120 bps from 1.0% to -0.2%.
The Fed tends to favor the inflation gauge that the government issued Friday — the personal consumption expenditures price index — over the better-known consumer price index. The PCE index ...
However, for the month, core inflation inched up by 0.1% in August from 0.2% in July. Economists forecast a 0.2% rise in core inflation last month. President Joe Biden touted the report as a ...
Economists had forecast that the PCE index would rise 2.7%. When volatile food and energy costs are factored out, the Federal Reserve’s preferred measure of inflation increased 2.7% from one ...
We expect US core PCE at a consensus 0.2% MoM today, which should endorse the Fed’s shift in focus from inflation to ...
Slowing inflation in August buttressed arguments Federal Reserve officials used in defense of their decision to lower ...
August's personal consumption expenditures index clocked in at 2.2%, but the housing category is one of the slowest ...
NEW YORK (Reuters) -Treasury yields and the dollar fell while the Dow registered a record closing high on Friday as a subdued ...
Overnight saw a big move in Asia. In China, the rally continued in response to the stimulus package that so far has exceeded expectations. [The Hang Seng's 13% gain this week was the best since 1998.] ...
Some results have been hidden because they may be inaccessible to you
Show inaccessible results
Feedback