The personal consumption expenditure index – the US Federal Reserve’s preferred gauge of inflation – fell in July, rekindling hopes that inflation has peaked and is beginning to slow, giving the US central bank room to ease interest rates. increases in its interest rates.
In particular, the price index for personal consumption expenditures fell 0.1% in July from the previous month, while the structural index – excluding energy and food – rose just 0.1%, according to data released today by the Commerce Department. of the USA.
It is noted that in June from May, the index had jumped 1%, while on a structural basis it had strengthened by 0.6%.
A slowdown is also recorded in the 12 months, with the annual index slowing to 6.3% in July from 6.8% the previous month and the structural index to 4.6% from 4.8%.
Consumer spending edged up a marginal 0.1% last month, government data showed. The June figures were revised to a 1% rise instead of the 1.1% initially announced. The average estimate of analysts in a Reuters poll was for consumer spending to rise 0.4 percent.
Finally, Americans’ incomes rose 0.2 percent, government data showed.
Source: Capital
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