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- Breaking: US annual Core PCE inflation rises to 4.9% in August vs. 4.7% expected
Breaking: US annual Core PCE inflation rises to 4.9% in August vs. 4.7% expected
Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, declined to 6.2% on a yearly basis in August from 6.4% in July, the US Bureau of Economic Analysis announced on Friday. This reading came in below the market expectation of 6.6%. On a monthly basis, the PCE Price Index rose 0.3% as expected.
The Core PCE Price Index, the Federal Reserve's preferred gauge of inflation, edged higher to 4.9% on a yearly basis from 4.7% in July, compared to analysts' estimate of 4.7%, and was up 0.6% in August.
Market reaction
The US Dollar Index showed no immediate reaction to these data and was last seen rising 0.65% on the day at 112.50.
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