U.S. August PCE inflation rises 3.4%, below market expectations

【Financial News, New York — Correspondent Lee Byung-cheol】 The inflation gauge preferred by the Federal Reserve System (the Fed) came in below market expectations, easing some concerns about inflation.
The August Personal Consumption Expenditures (PCE) Price Index rose 0.3% from the previous month, in line with market expectations, according to the United States Department of Commerce (U.S. Department of Commerce) on the 30th local time. It increased 3.4% from a year earlier, below the market forecast of 3.7%.
The Core PCE Price Index, which excludes volatile food and energy prices, rose 0.2% month on month and 3.0% year on year. Both figures were below market forecasts of 0.3% and 3.3%, respectively.
The Fed officially uses the overall PCE Price Index as its gauge for assessing inflation, but places greater weight on core PCE when evaluating long-term inflation trends.




[email protected] Correspondent Lee Byung-cheol Reporter