Keeping you up to date on the latest data releases.
The Personal Consumption Expenditure (PCE) price index slipped down 2.0 percent in June, brought down in large part by decreasing energy prices (which fell at an annualized rate of 42.5 percent). Over the past 12 months, PCE prices have risen 2.6 percent. Underlying inflation—as measured by the core PCE—decelerated in June, rising 1.4 percent compared to 3.0 percent jump up in May. Over the past year, core PCE prices are up just 1.3 percent, though have risen at an annualized rate of 2.1 percent. Interestingly, the market-based core PCE—a subgroup of the core index that only includes observable price measures—followed a 3.2 percent jump up in May by rising 2.6 percent in June, pushing its 6-month annualized growth rate up to 2.3 percent.