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US: PCE price index increased 0.3 percent in second quarter
"The price index for gross domestic purchases increased 0.8 percent in the second quarter, compared with an increase of 2.6 percent in the first quarter (revised). The PCE price index increased 0.3 percent, compared with an increase of 2.2 percent. Excluding food and energy prices, the PCE price index increased 0.9 percent, compared with an increase of 1.8 percent," the Bureau of Economic Analysis said on Friday.
Key quotes:
- Personal consumption expenditures - From the fourth quarter of 2013 to the first quarter of 2017, the average annual rate of increase in the price index for PCE was 1.2 percent, 0.1 percentage point higher than the previously published estimates.
- The increase in the “core” PCE price index, which excludes food and energy, was 1.6 percent, the same as previously published.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
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