Fed’s preferred inflation gauge remains flat at 3.7 percent in July
Summary
The Federal Reserve’s preferred inflation measure, the personal consumption expenditures (PCE) price index, stayed steady at 3.7 percent for July compared to last year. After removing food and energy prices, which change often, inflation increased by 3.3 percent over the same period.Key Facts
- The PCE price index increased by 0.2 percent in July.
- Year-over-year inflation using the PCE index remained at 3.7 percent in July.
- Inflation excluding food and energy prices rose 3.3 percent compared to last year.
- The data was released by the Bureau of Economic Analysis.
- The Federal Reserve uses the PCE price index as its preferred inflation gauge.
- Food and energy prices are considered volatile and excluded in one inflation measure.
- The inflation rate did not increase or decrease significantly in July.
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