US Annual Core PCE Inflation Rises to 3.5% in June

Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 0.5% in June, the US Bureau of Economic Analysis reported on Friday. On a yearly basis, the PCE Price Index remained steady at 4%.

The annual Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, edged higher to 3.5% in June from 3.4% in May, coming in lower than the market expectation of 3.7%.