Inflation held steady in July, with the Personal Consumption Expenditures index reporting 2.5 percent yearly inflation, the same as last month and in line with forecasts.
The core inflation index, which excludes food and fuel prices, rose by 2.6 percent from a year earlier, providing a clearer view of underlying inflation trends.
Despite the yearly inflation remaining over the Fed's 2 percent target, it has dropped significantly from its 2022 peak of over 7 percent.
The Fed officials are expected to closely analyze monthly inflation data, as this July's prices compared to last year's cool readings reflect a gradual moderation in inflation.
Collection
[
|
...
]