July Core PCE Inflation Rate Predicted to Rise

According to BlockBeats, Wall Street Journal reporter Nick Timiraos, known as the 'Fed's mouthpiece,' shared on social media that economists have recalculated CPI and PPI data into the PCE index. They anticipate the core PCE inflation rate for July to be 0.28%, translating to an annual rate of 3.4%, which would increase the year-over-year growth to 2.9%. The overall PCE inflation rate is expected to be moderate, with a month-over-month increase of 0.21% and a year-over-year rise of 2.6%.