Slowing inflation in the United States in August
September 27, 2024
According to the latest data from the Fed’s preferred inflation gauge, prices rose at a slower-than-expected pace on a monthly basis in August. The core Personal Consumption Expenditures (PCE) index, which excludes food and energy costs and is closely watched by the Federal Reserve, rose 0.1% in August from the previous month. This is lower than the 0.2% increase expected by Wall Street and the 0.2% rise in July. Year-over-year, prices rose 2.7% in August, in line with Wall Street expectations and higher than July’s 2.6%.