US annual PCE inflation declines to 6.3% in July

As measured by the Personal Consumption Expenditures (PCE) Price Index, Inflation in the US declined to 6.3% in July from 6.8% in June, the US Bureau of Economic Analysis reported on Friday. This reading came in much lower than the market expectation of 7.4%. The Core PCE Price Index, which excludes volatile food and energy prices, edged lower to 4.6% from 4.8% in the same period, compared to the market expectation of 4.7%.