US July core PCE inflation +4.2% y/y vs +4.2% expected

<ul><li><a href="https://www.forexlive.com/news/us-june-core-pce-inflation-41-yy-vs-42-expected-20230728/" target="_blank" rel="follow">Prior </a>was +4.1%</li><li>PCE core +0.2% m/m vs +0.2% expected</li><li>Prior MoM +0.2%</li><li>Headline inflation PCE +3.3% y/y vs +3.3% expected (Prior +3.0%)</li><li>Deflator +0.2% m/m vs +0.2% expected (prior was +0.2%)</li></ul><p>Consumer spending and income for July:</p><ul><li>Personal income +0.2% vs +0.3% expected. Prior month +0.3% </li><li>Personal spending +0.8% vs +0.7% expected. Prior month +0.5%</li><li>Real personal spending +0.6% vs 0.4% prior </li></ul><p>These numbers are solid, all around. Inflation was in line with wage numbers cooling and spending staying strong. These are 'soft landing' numbers, if not 'no landing' but that's how a slowdown always starts. Bonds have a bit of a bid after the data, which might reflect falling angst about inflation. The headline ticked up and will tick up again in August on energy prices.</p>

This article was written by Adam Button at www.forexlive.com.