Keeping you up to date on the latest data releases.
- PCE Price Index
The Personal Consumption Expenditures (PCE) price index was nearly flat in July, increasing at an annualized rate of just 0.1 percent. This follows an increase of 1.3 percent in June and a drop of 2.3 percent in May, as the headline index is up 1.3 percent since July of last year. The “core” PCE price index—which excludes food and energy prices—increased just 0.4 percent for the month, much lower than the average growth over the three prior months of 1.8 percent, and is the lowest monthly change since December of 2010. On a year-over-year basis, “core” PCE prices were up 1.6 percent in July, following increases of 1.8 percent in both May and June. The market-based “core” PCE price index—which excludes most imputed prices—increased 0.6 percent in July compared with monthly increases of 1.9 and 2.3 percent in May and June, respectively, and is up 1.7 percent since July of 2011.