< Back to all clusters
[BUSINESS] · United States · 32 sources

started · updated

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.

Sources