Keeping you up to date on the latest data releases.
The Personal Consumption Expenditure (PCE) price index jumped up 4.5 percent in July, after a 1.5 percent decrease in June. Rising gasoline prices accounted for a large part of the overall increase. Over the past 12 months, PCE prices are up 2.8 percent. Excluding volatile food and energy price increases, the “core” PCE price index rose 2.4 percent in July, in line with its growth rate over the prior three months, though slightly above its 12-month percent change of 1.6 percent. The market-based core PCE—a subgroup of the core index that only excludes most imputed prices—rose 2.3 percent in July, consistent with the increase in the overall core PCE. The market-based core measure is up 1.5 percent over the past year, though is trending at a somewhat elevated 2.7 percent growth rate over the past 3 months.