Free daily briefing on global business news.
The headline PCE price index rose 3.7% annually, topping consensus by 0.1 percentage point, while core inflation matched expectations at 3.3%
Thomas Trutschel/Photothek via Getty Images
The Federal Reserve's preferred inflation gauge posted a modest upside surprise on Wednesday, with the headline reading coming in above forecasts even as the core measure held in line with expectations.
July's PCE price index registered a seasonally adjusted monthly gain of 0.2%, lifting the year-over-year rate to 3.7%, the Bureau of Economic Analysis reported. Each of those headline figures came in 0.1 percentage point ahead of the Dow Jones consensus, according to CNBC.
