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U.S. annual inflation ticks higher in July; jobless claims decline in latest week
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Investing.com — The pace of annual inflation in the U.S. accelerated last month, but remained near recently lower levels, as Federal Reserve officials mull over potentially pulling back from their recent policy tightening campaign at their next meeting in September.
The personal consumption expenditures (PCE) index rose by 3.3% in the 12 months through July, meeting estimates. The figure was faster than an increase of 3.0% in the prior month.
On a monthly basis, the number was unchanged as anticipated at 0.2%.
Meanwhile, the core reading, which strips out volatile items like food and energy, quickened to 4.2% year-on-year and held steady at 0.2% month-on-month.
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