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US June PCE Inflation Eases Amid Middle East Tensions
The U.S. Personal Consumption Expenditures (PCE) price index rose 3.7% year‑over‑year in June 2024, while the headline index slipped 0.1% month‑over‑month – the weakest reading since April 2020. Core PCE, which excludes food and energy, increased 3.3% year‑over‑year and 0.1% month‑over‑month.
Consumer spending rose 0.3% and personal income rose 0.2% in June, but the personal saving rate fell to 2.7%, the lowest level since June 2022. The moderation in inflation coincided with a temporary lull in the U.S.–Iran conflict that pushed oil prices lower, a relief that analysts say may be short‑lived.
The Federal Reserve left its benchmark overnight rate unchanged in the 3.5%‑3.75% range, with three committee members dissenting in favor of a quarter‑point hike. Market observers expect the central bank could raise rates again in September if inflation pressure returns.
Entities
Brent crude · Brent crude oil · Federal Reserve · Iran · Kevin Warsh · Personal Consumption Expenditures (PCE) price index · Personal Consumption Expenditures Price Index · U.S. Commerce Department · U.S. Federal Reserve · U.S. gasoline market · United States
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Brent crude oil prices were just above $90 per barrel in June 2024 amid renewed Middle East hostilities. wdez.com · wsau.com · nypost.com
- [● 5 SOURCES] Three Fed policy‑making committee members dissented, favoring a quarter‑point rate hike. dnyuz.com · wdez.com · wsau.com · nypost.com · eyeonhousing.org
- [● 3 SOURCES] Core PCE inflation (excluding food and energy) rose 0.1% month‑over‑month and 3.3% year‑over‑year in June 2024. wdez.com · wsau.com
- [● 9 SOURCES] The PCE price index slipped 0.1% month‑over‑month in June. wdez.com · wsau.com · cashcow.nl · dnyuz.com · eyeonhousing.org · +3 more
- [● 6 SOURCES] Fed Chair Kevin Warsh said the Fed would not waver in its commitment to bring inflation back to the 2% target. dnyuz.com · wdez.com · wsau.com · nypost.com · eyeonhousing.org
- [● 9 SOURCES] The Personal Consumption Expenditures (PCE) price index increased 3.7% year‑over‑year in June. wdez.com · wsau.com · cashcow.nl · dnyuz.com · eyeonhousing.org · +3 more
- [● 7 SOURCES] The Federal Reserve kept its benchmark overnight interest rate unchanged at 3.5%-3.75% on July 31 2024. dnyuz.com · wdez.com · wsau.com · ktvz.com · nypost.com · +1 more
- [● 3 SOURCES] U.S. gasoline prices rose back above $4 per gallon in June 2024. wdez.com · wsau.com · nypost.com
- [● 5 SOURCES] Overall PCE price index rose 5.7% year‑over‑year in Q2 2026. s.alwakeelnews.com · www.blockmedia.co.kr · www.ot.gr · www.newmoney.gr
- [● 3 SOURCES] Core PCE index increased 0.1% month‑over‑month in June 2026. www.blockmedia.co.kr · www.ot.gr · www.newmoney.gr
- [● 5 SOURCES] US real GDP grew at an annualized 1.5% rate in Q2 2026. s.alwakeelnews.com · www.blockmedia.co.kr · www.ot.gr · www.newmoney.gr
- [● 3 SOURCES] Consumer spending increased 3.2% year‑over‑year in Q2 2026. s.alwakeelnews.com · www.ot.gr · www.newmoney.gr