US Fed's favored inflation measure cools further in June
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The US Federal Reserve's favored inflation measure, the personal consumption expenditures (PCE) price index, eased to an annual rate of 2.5 percent in June, down slightly from 2.6 percent the previous month. However, inflation still remains above the Fed's long-term target of two percent. The labor market appears to be improving, and the economy grew at an annualized rate of 2.8 percent in the second quarter. US central bank policymakers have been sounding more optimistic about the chances of an interest rate cut. The closely watched core measure of inflation, excluding food and energy prices, eased to an annual rate of 2.6 percent in June.

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https://www.legit.ng/business-economy/economy/1604487-us-feds-favored-inflation-measure-cools-june/