U.S. Core PCE Inflation Falls to Its Lowest Level Since February

U.S. core PCE inflation in August came in below expectations at 3% year over year and 0.2% month over month, with the annual increase falling to its lowest level since February.

According to data reported by Wu Blockchain, market expectations for the annual increase in the core personal consumption expenditures (PCE) price index stood at 3.3%. The reported rate of 3% was 0.3 percentage points below that estimate.

Monthly increase also misses expectations

Monthly core PCE inflation was 0.2% in August, compared with expectations of 0.3%. As a result, both the monthly and annual figures showed increases that were lower than forecast.

The previous month’s monthly increase was also revised from 0.2% to 0.1%. The downward revision showed that price increases in the previous month were slower than initially reported.