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The Federal Reserve’s preferred measure of inflation cooled sharply in June, reflecting the decline in global energy prices, new government data show.
June’s annual personal consumption expenditures (PCE) price index eased to 3.7 percent, from 4.1 percent in May, according to Bureau of Economic Analysis figures published on July 30. This matched the market estimate.
From May to June, PCE inflation fell 0.1 percent, from an upwardly revised 0.5 percent.
The latest inflation numbers are consistent with other reports spotlighting a deceleration in price pressures.
Prices for goods fell 0.6 percent, driven primarily by lower costs for gasoline and other energy-related items.
Services inflation was little changed, edging up 0.1 percent due to higher healthcare and transportation costs….
June’s annual personal consumption expenditures (PCE) price index eased to 3.7 percent, from 4.1 percent in May, according to Bureau of Economic Analysis figures published on July 30. This matched the market estimate.
From May to June, PCE inflation fell 0.1 percent, from an upwardly revised 0.5 percent.
The latest inflation numbers are consistent with other reports spotlighting a deceleration in price pressures.
Prices for goods fell 0.6 percent, driven primarily by lower costs for gasoline and other energy-related items.
Services inflation was little changed, edging up 0.1 percent due to higher healthcare and transportation costs….
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