United States: inflation falls by 0.1% in July

&Eacute United States: Inflation fell by 0.1% in July

Inflation in the United States fell by 0.1% in July.

Inflation in the United States fell slightly in July by 0.1% after rising 1% in June, according to the PCE index, an indicator of personal consumption expenditure released on Friday by the Commerce Department.

Over one year, prices also slowed their rise to 6.3%, against 6.8% in June, according to this indicator favored by the central bank American, the Fed.

Excluding volatile energy and food costs, inflation for the month rose 0.1% from 0.6% in June. Over one year, it stood at 4.6%, against 4.8% in the previous month.

These figures are a little better than the forecasts of analysts who bet on a PCE index up slightly by 0.1% over the month and by 0.3% for underlying inflation.

Another indicator of inflation, the CPI consumer price index, released on August 10 and generally higher than the PCE, also showed a slowdown in price increases. It had registered at 8.5% in July and 9.1% in June.

Consumer income and spending grew less than expected in July.

Income grew by only 0 .2%, compared to 0.7% in June, when analysts expected an increase of 0.6%.

Consumer spending posted a modest increase of 0.1% , compared to 1% the month before. They are also below forecasts (+0.4%), showing that high prices are weighing on household consumption.

Leave a Reply

Your email address will not be published.

Previous post Ukraine connects Russian-occupied Zaporizhia nuclear power plant | War in Ukraine
Next post A millionaire and an ex-policeman will have to serve their prison sentences