Keeping you up to date on the latest data releases.
- PCE Price Index
The Personal Consumption Expenditures (PCE) price index increased at an annualized rate of 1.3 percent in June following a drop of 2.2 percent in May, and is up 1.5 percent since last year. The quarterly average annualized percent change in the headline index dropped from 3.3 percent during the first quarter to -0.3 percent during the second quarter caused primarily by May’s decline. The “core” PCE price index—which excludes food and energy prices—increased 2.5 percent in June, following an increase of 1.4 percent in May. This pulls the near-term (3-month) trend in “core” PCE prices up slightly from 1.7 to 1.8 percent, which is still below the first quarter average of 2.3 percent. On a year-over-year basis, “core” PCE prices are up 1.8 percent. The market-based “core” PCE price index—which excludes most imputed prices—increased 2.2 percent during June, following an increase of 1.8 percent in May, and is up 1.8 percent over the past year.