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According to the data published by the US Bureau of Economic Analysis on Friday, the Personal Consumption Expenditures Price (PCE) Index rose 0.2% on a monthly basis in July and allowed the annual rate to tick up to 1.4%.

Further details of the report revealed that the core PCE Price Index, which excludes volatile food and energy prices, stayed unchanged at 1.6% on a yearly basis as expected and stayed below the Federal Reserve’s target rate of 2%.

The market reaction to the data was relatively muted and the US Dollar Index was last up 0.1% on the day at 98.55.