Financial News: U.S. PCE Price Index Inches Higher In June,

U.S. PCE Price Index Inches Higher In June, Annual Growth Slows To 2.5%

07/26/2024 - 08:40:00 (RTTNews)

(RTTNews) - Consumer prices in the U.S. crept up in line with economist estimates in the month of June, according to a highly anticipated report released by the Commerce Department on Friday.

The Commerce Department said its personal consumption expenditures (PCE) price index inched up by 0.1 percent in June after coming in unchanged in May. The uptick by the index matched expectations.

The report also said the annual rate of growth by the PCE price index slowed to 2.5 percent in June from 2.6 percent in May. The slowdown in year-over-year growth also met estimates.

Meanwhile, the Commerce Department said the core PCE price index, which excludes food and energy prices, rose by 0.2 percent in June after inching up by 0.1 percent in May. Economists had expected another 0.1 percent uptick.

The annual rate of growth by the core PCE price index was unchanged from the previous month at 2.6 percent in June, while economists had expected the pace of growth to slow to 2.5 percent.

The readings on inflation, which are said to be preferred by the Federal Reserve, were included in the Commerce Department's report on personal income and spending.

The report showed personal income rose by less than expected, while personal spending increased in line with economist estimates.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Swiss Consumers More Pessimistic In August (09 hr(s), 35 min(s), 02 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained more negative in August, survey results from ...Full Story»

U.S. Job Growth Misses Estimates In August But Unemployment Rate Dips (10 hr(s), 08 min(s), 02 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Czech Industrial Output Decline Softens; Trade Deficit Narrows (10 hr(s), 45 min(s), 02 sec(s) ago)
(RTTNews) - The Czech Republic's industrial production decreased for the fifth straight month, ...Full Story»

U.S. Employment Climbs Less Than Expected In August (10 hr(s), 52 min(s), 02 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Eurozone GDP Growth Slows In Q2 (11 hr(s), 18 min(s), 02 sec(s) ago)
(RTTNews) - Euro area economic growth rate for the second quarter was revised down as the positive ...Full Story»

France Industrial Output Falls 0.5% (11 hr(s), 45 min(s), 02 sec(s) ago)
(RTTNews) - France's industrial production decreased more-than-expected in July after reboundi ...Full Story»

Italy Retail Sales Rebound 0.5% (12 hr(s), 32 min(s), 02 sec(s) ago)
(RTTNews) - Italy's retail sales increased more-than expected in July after falling in the pre ...Full Story»

French Trade Gap Narrows In July (13 hr(s), 03 min(s), 02 sec(s) ago)
(RTTNews) - France's trade deficit decreased in July from a year ago as imports fell faster th ...Full Story»