Inflation measure closely watched by the Fed fell to 2.2% in August

Published On Sep 27, 2024, 8:33 AM

In August, the closely monitored inflation measure known as the PCE (Personal Consumption Expenditures) price index recorded a year-over-year increase of 2.2%, which is lower than economists' expectations. The month-over-month increase was just 0.1%. The Core PCE, excluding food and energy, also rose 0.1% from the previous month and increased 2.7% year-over-year, aligning with expectations. This decrease in inflation is seen as a positive sign for the Federal Reserve's policy decisions going forward.

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The recent decline in inflation suggests that the Federal Reserve may adopt a more accommodative monetary policy, potentially lowering interest rates if the trend continues. This environment could support growth in consumer-driven sectors.

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