US Core PCE Inflation Rises 2.8% Annually in June, Tops Estimates

The U.S. Core Personal Consumption Expenditures (PCE) Price Index increased 2.8% year-over-year in June, slightly exceeding market expectations of 2.7%.

On a monthly basis, the index rose 0.3%, meeting forecasts of 0.3% growth.

As the Federal Reserve’s preferred inflation gauge excluding food and energy costs, the Core PCE data signals persistent inflationary pressures within the economy despite alignment with short-term projections.