FRB-focused PCE core price index grew slightly in June - consumption is strong

Updated 2024/7/26 23:16 JST
The PCE core price index rose 0.2% from the previous month - real PCE increased 0.2% from the previous month.
Wages and salaries increased 0.3% from the previous month, and growth slowed, and savings rates also declined.

(Some omitted)

Bloomberg Economics economists Stuart Paul and Eliza Winger said in the report, “Looking at the details of personal income and expenditure statistics for June, it is suggested that consumer momentum is weakening. While spending decelerated, healthy growth continued, income growth slowed more rapidly. Since the labor market is cooling down, it is conceivable that consumption growth will slow further in the second half of this year.”
　　The savings rate fell to 3.4%, the lowest level since 2022/12.