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Firas 🅰️
@firasnfts
THE US FEDERAL RESERVE’S PREFERRED INFLATION MEASURE FELL SHORT OF EXPECTATIONS IN JULY Data released by the US Bureau of Economic Analysis on Friday showed that the Personal Consumption Expenditures Price Index (PCE) – the US Federal Reserve’s preferred inflation measure – recorded a reading lower than market expectations in July. According to the data, the US core PCE index rose 2.6% year-on-year in July, below market expectations of 2.7%. The previous reading was 2.6% in June. On a monthly basis, the US core PCE index grew 0.2% in June, matching market expectations of 0.2%, after rising 0.2% in June.
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Firas 🅰️
@firasnfts
It is worth noting that this index measures the change in the prices of goods and services purchased by consumers in the United States, excluding food and energy, and a reading higher than expected is positively reflected in currency movements and vice versa. This index differs from the core consumer price index in the United States in that it only measures goods and services targeted and consumed by individuals. Prices are measured according to the total expenditure for each item, which gives an insight into consumer spending behavior. At the same time, some consider this index to be the preferred measure of inflation for the US Federal Reserve, and in addition to that, markets are focusing on the US labor market data expected next week and the consumer price index data as well.
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CHY 🅰️
@oxchy
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