Yahoo Finance published this video item, entitled “Fed’s preferred inflation measure edges higher in July: Stock Market news today | August 31” – below is their description.
The Federal Reserve’s preferred inflation measure edged higher in July, reversing some of the prior month’s sharp drop as the central bank works to bring inflation back to its 2% target.
The Personal Consumption Expenditures (PCE) Index excluding the cost of food and energy, or so-called “core” PCE, rose 4.2% over the prior year in July, in-line with economist expectations and up from 4.1% in June, data released by the Commerce Department on Thursday showed.
On a headline basis, which includes all categories, PCE inflation rose 3.3% year-over-year in July, up from 3% the month prior and in line with expectations.
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