July PCE Preview: Core Inflation Consensus Before Wednesday
The Fed's preferred inflation gauge lands Wednesday morning, and the number that matters most, core PCE, has not made a Fed hawk's job any easier. June's reading put core PCE at 3.29% year over year, more than a full point above the Federal Reserve's 2% target, and consensus expects the July print due August 26 at 8:30 a.m. ET to show core prices up 0.2% month over month.
Key Takeaways Core PCE (ex food and energy) ran at 3.29% year over year in June, and consensus expects a July print of +0.2% month over month when the data lands August 26. Personal income is expected to rise 0.2% month over month, matching June, while personal spending is expected to slow to +0.1% from June's +0.3%. The Fed…
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