The Core Personal Consumption Expenditures (PCE) Price Index report, which is the FED’s most followed inflation indicator, was announced by the Bureau of Economic Analysis (BEA). According to the report released for May, in the United States PCE Price Index increased by 3.8 percent year-on-year. Expectations were for an increase of 4.6 percent.
The Core PCE Price Index, which is important as an indicator that does not include volatile food and energy prices, increased by 4.6 percent on an annual basis in May.
After the policy meeting in June, the FED decided to keep the policy rate unchanged in the range of 5% to 5.25 percent. Fed Chairman Jerome Powell, on the other hand, stated that the interruption of interest rate hikes does not mean that the final rate has been reached and left the table with the strong impression that two more rate hikes could be made.
After the announced data, there was not much change on the gold and dollar front. Ounce gold, which started the day horizontally and continued its course, moved from $ 1,906 to above $ 1,910 after the announcement of the data, while the dollar index did not react much.
For the continuation of the article, the USA’s Critical Inflation Data Has Been Announced!