01:30 PM BST, United States - Inflation Data for August:
- PCE price index: actual 0.1% MoM; forecast 0.2% MoM; previous 0.2% MoM;
- PCE Price index: actual 2.2% YoY; forecast 2.3% YoY; previous 2.5% YoY;
- Core PCE Price Index: actual 0.1% MoM; forecast 0.2% MoM; previous 0.2% MoM;
- Core PCE Price Index: actual 2.7% YoY; forecast 2.7% YoY; previous 2.6% YoY;
- Personal Income: actual 0.2% MoM; forecast 0.4% MoM; previous 0.3% MoM;
- Personal Spending: actual 0.2% MoM; forecast 0.3% MoM; previous 0.5% MoM;
- Real Personal Consumption: actual 0.1% MoM; previous 0.4% MoM;
In August 2024, U.S. personal income rose by $50.5 billion (0.2%), with disposable personal income increasing by $34.2 billion (0.2%) and personal consumption expenditures (PCE) up $47.2 billion (0.2%). The PCE price index grew modestly by 0.1%, indicating stable inflation, while real disposable income and real PCE both increased by 0.1%. Spending on services, particularly housing and financial services, drove the rise in PCE, offsetting a decline in goods spending, mainly in new motor vehicles. The personal saving rate stood at 4.8%, with personal saving totaling $1.05 trillion.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThe data come in as expected for the core measure and slightly below expectations for headline inflation. The report should support further rate cuts by the Fed and the likelihood of a 50bp cut is likely to be raised soon. However, the key for markets and the Fed will be next week's labor market reports.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
