US Personal Consumption Expenditures in July Up 4.2% Year-on-Year
[Asia Economy Reporter Ki-min Lee] On the 27th (local time), the U.S. Department of Commerce announced that the Personal Consumption Expenditures (PCE) price index rose by 4.2% compared to the same month last year. This figure is 0.1 percentage points higher than July 2008 (4.1%), just before the global financial crisis.
The core PCE price index, which excludes food and energy items, rose 3.6% compared to last year, in line with expert expectations.
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Meanwhile, last month, U.S. personal income increased by 1.1%, exceeding expert forecasts of a 0.2% increase from the previous month.
This content was produced with the assistance of AI translation services.
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