U.S. annual inflation ticks higher in July; jobless claims decline in latest week

U.S. annual inflation ticks higher in July; jobless claims decline in latest week

U.S. annual inflation ticks higher in July; jobless claims decline in latest week

The pace of annual inflation in the U.S. accelerated last month, but remained near recently lower levels, as Federal Reserve officials mull over potentially pulling back from their recent policy tightening campaign at their next meeting in September.


The personal consumption expenditures (PCE) index rose by 3.3% in the 12 months through July, meeting estimates. The figure was faster than an increase of 3.0% in the prior month.


On a monthly basis, the number was unchanged as anticipated at 0.2%.


Meanwhile, the core reading, which strips out volatile items like food and energy, quickened to 4.2% year-on-year and held steady at 0.2% month-on-month.


At the same time, another report showed that initial jobless claims ticked down to 228,000 in the week through Aug. 26 from 232,000 in the prior week. Economists had forecast a reading of 235,000.


The four-week moving average of claims, which smooths out some of the week-to-week volatility, rose by 250 to 237,500.


Source : https://www.investing.com


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