Dollars and Jens
Wednesday, August 04, 2010
For a third consecutive month, falling energy prices were the prime culprit in producing a negative headline PCE inflation rate—abetted this time around by declines in the price index for food. That string of consecutive negative headline rates looks to be snapped, however, when data for July come out. Meanwhile, the 12-month inflation rate for core PCE ticked down a notch, from 1.5 percent in May to 1.4 percent in June. The 12-month trimmed mean PCE inflation rate held steady at 1 percent.
From the Dallas Fed. Overall PCE inflation was a -1.7% annual rate last month, but is still positive over the last year; the core measures are a bit higher, with the trimmed-mean fairly steady in the 0.7-0.8% range recently.

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