Economics
U.S. Core Inflation Firms as Fed Meets for Expected Rate Cut
- Trend shows underlying gauge moving up toward Fed target
- Release includes annual revisions to index data since 2014
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The Federal Reserve’s preferred measure of underlying U.S. inflation showed signs of rebounding back toward the central bank’s target in June just before a widely anticipated interest-rate cut spurred partly by weak price gains.
The core personal consumption expenditures price gauge, which excludes food and energy, climbed 0.2% from the prior month and 1.6% from a year earlier, according to a Commerce Department report Tuesday that reflected annual revisions to more than four years of data. The broader PCE rose 0.1% on the month and 1.4% annually.