US Commerce Department To Release PCE Price Index

According to Odaily, at 20:30 Beijing time, the US Commerce Department will release the Personal Consumption Expenditures (PCE) Price Index. This comprehensive indicator covers the prices consumers pay for a variety of goods and services, as well as their spending preferences. The Federal Reserve prefers the PCE index over the Labor Department's Consumer Price Index (CPI) because it accounts for changes in consumer behavior, such as substitution purchases, and has a broader scope. For the PCE reading in July, the Dow Jones consensus expectation is that recent trends will not see significant changes. The overall PCE and core PCE month-on-month growth rates are expected to be 0.2%, with year-on-year growth rates of 2.5% and 2.7%, respectively. It is anticipated that the core PCE year-on-year growth rate will see a slight increase, rising marginally compared to June, while the measurements for all items will remain unchanged.