BlockBeats News, on July 31, the U.S. June inflation data slightly exceeded expectations, adding more uncertainty to the Federal Reserve's interest rate cut timetable. The core PCE price index favored by the Federal Reserve rose by 0.3% month-on-month and 2.8% year-on-year, slightly higher than the market forecasts of 0.29% and 2.7%. The overall PCE index, which includes food and energy, increased by 0.3% month-on-month and rose by 2.6% year-on-year, also higher than the market expectations of 0.23% and 2.5%.
This unexpected inflation report makes the Federal Reserve's path to an interest rate cut more complex. Policymakers had previously emphasized the need to see more evidence of inflation consistently falling back to the 2% target, and the latest data may delay this process. (Jinshi)