Key Inflation Rate Hits Lowest Annual Level in Almost 2 Years

Key Inflation Rate , Hits Lowest Annual Level , in Almost 2 Years.
CNBC reports that inflation continued
to show signs of cooling in June,
in line with Dow Jones estimates.
CNBC reports that inflation continued
to show signs of cooling in June,
in line with Dow Jones estimates.
According to the Commerce Department,
the personal consumption expenditures (PCE)
price index increased just 0.2% from May. .
Compared to the same time in 2022,
the PCE index rose 4.1%, slightly lower
than the 4.2% previously estimated.
CNBC reports that the annual
rate marks a significant decrease
from the 4.6% pace in May. .
After the newest PCE index was released,
markets reacted positively, with futures
inching higher and Treasury yields lower. .
Today’s economic releases reaffirm
the current market narrative that
inflation is cooling and economic
growth is continuing, which is a
favorable environment for risk assets. , George Mateyo, chief investment officer at Key Private Bank, via CNBC.
The Fed and investors will take comfort
in these numbers as they suggest that the
inflation threat is dissipating and thus the
Fed may now be able to go on vacation
and assume an extended pause with
respect to future interest rate increases, George Mateyo, chief investment officer at Key Private Bank, via CNBC.
CNBC reports that the PCE index reflects
that prices have begun to ease following
2022’s soaring inflation rates. .
The news comes just two days after the Federal Reserve,
which closely monitors the PCE index, announced
another quarter percentage point interest rate hike. .
The news comes just two days after the Federal Reserve,
which closely monitors the PCE index, announced
another quarter percentage point interest rate hike. .
The increase took the central bank’s key
borrowing rate to its highest level in
over 22 years, reaching 5.25% to 5.5%.