US inflation: the Fed’s core PCE index + 3.5% y / y in June, less than expected

US inflation as measured by the PCE core index rose 3.5% yoy in June, up from 3.4% yoy in May.

The growth of the index – on which the Federal Reserve is focusing to monitor the trend of inflationary pressures – was however lower than the increase of 3.7% expected.

The data was published together with personal income, which rose by 0.1% in June, better than the expected decline of -0.3%, recovering from the May drop of -2%.

Personal expenses rose by 1%, over the estimated + 0.7% and compared to the May drop, equal to -0.1%.