US July PCE Inflation Reaches 3.7% Surpassing 3.6% Market Expectations

The Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures (PCE) price index, climbed to 3.7% in July, coming in above the anticipated 3.6% mark.

Core PCE inflation reached 3.3%, marking its second-highest level recorded since October 2024. Current inflationary pressures remain nearly twice as high as the Federal Reserve's established 2.0% long-term target.