The U.S. Department of Commerce reported that the Personal Consumption Expenditures (PCE) price index rose 3.4% in August compared to the same month last year, as of September 30.
This figure slightly missed the Dow Jones estimate of 3.7%. Month-over-month, the index increased by 0.3%, aligning with expectations.
Excluding energy and food, the core PCE price index rose 3.0% year-over-year and 0.2% from the previous month.
The PCE price index reflects the prices of goods and services consumed by households.
The Federal Reserve uses this index as a benchmark to assess its monetary policy goal of a 2% inflation rate.
As inflation showed signs of slowing more than anticipated, concerns over further interest rate hikes by the Federal Reserve eased, leading to downward pressure on U.S. Treasury yields.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.