According to the report released by the US Bureau of Economic Analysis, Personal Consumption Expenditures Price Index stayed unchanged at 2.2% on a yearly basis in June to fall short of the market expectation of 2.3%. The core version, which excludes volatile food & energy prices, remained steady at 1.9% compared to analysts’ estimate of 1.9%.
Key takeaways from the official publication
- Personal income increased $71.7 billion (0.4 percent) in June.
- Disposable personal income (DPI) increased $65.3 billion (0.4 percent) and personal consumption expenditures (PCE) increased $57.1 billion (0.4 percent).
- The $39.7 billion increase in real PCE in June primarily reflected an increase of $36.4 billion in spending for services.
- The PCE price index increased 0.1 percent. Excluding food and energy, the PCE price index increased 0.1 percent.
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