US Core PCE for July YoY 2.9% vs 2.9% expected

  • The US PCE report for July 2025
US INFLATION MONEY
  • Prior 2.8%
  • Core PCE M/M 0.3% vs 0.3% expected
  • Prior 0.3%

Headline PCE:

  • PCE Y/Y 2.6% vs 2.6% expected
  • Prior 2.6%
  • PCE M/M 0.2% vs 0.2% expected
  • Prior 0.3%

Income/Spending:

  • Personal income M/M 0.4% vs 0.4% expected
  • Prior 0.3%
  • Personal spending M/M 0.5% vs 0.5% expected
  • 0.3% prior (revised to 0.4%)

Minimal reaction in the markets, which shouldn't be surprising given that the data came in line with expectations across the board. The market pricing remained unchanged as the focus remains on the US labour market data coming up next week.

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