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U.S. Core PCE Inflation Heats Up in June, Adding Another Variable to Fed's September Rate Cut Prospects
BlockBeats News, July 31st: The U.S. inflation data for June slightly exceeded expectations, adding another variable to the Fed's interest rate cut timeline. The Fed-favored core PCE price index rose by 0.3% month-on-month and 2.8% year-on-year, slightly higher than the market's forecast of 0.29% and 2.7%. The overall PCE index, which includes food and energy, rose by 0.3% month-on-month and 2.6% year-on-year, also surpassing market expectations of 0.23% and 2.5%.
This higher-than-expected inflation report has made the Fed's interest rate cut path more complex. Policymakers had previously emphasized the need to see more evidence of inflation consistently returning to the 2% target, and the latest data may delay this process. (FXStreet)
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