July PCE inflation index held at 3.7% annual pace, hotter than expected

The Personal Consumption Expenditures index was unchanged from June, highlighting stubborn inflationary pressures.

The Personal Consumption Expenditure index, the Federal Reserve’s preferred inflation tracker, held steady in July.

Inflation held at 3.7% for the year ending in July, the Bureau of Labor Statistics said Wednesday morning in an update to the personal consumption expenditures index, which is the Federal Reserve’s preferred inflation gauge. The stubbornly high inflation shows that price pressures continue to pose a major threat to the

Directors at the Cleveland, Minneapolis, Kansas City, and Dallas Fed banks backed a quarter-point increase before policymakers voted to hold

ABS says CPI was 3.5% in July, casting doubt on Reserve Bank meeting its 2.5% inflation target without further hike Fears are growing that the Reserve Bank will hit millions of mortgage holders with a fourth rate hike this year, after inflation eased in July but by far less than expected. Consumer prices climbed by 3.5