June’s report on Core Personal Consumption Expenditure (PCE) Price growth shows no increase (from the upgraded numbers from May). According to the Bureau of Economic Anaysis, June’s Core PCE Price growth remained at 1.5% YoY (and up 0.1% MoM).
Yes, the US economy is still below The Fed’s 2% target for inflation.
Personal Income and Spending in June? No growth in Personal Income and a 0.1% growth in Personal Spending.
Here is The Fed’s Chairman Janet Yellen talking to her Vice Chair Stanley Fischer: “I could have sworn that there was going to be inflation.”