US inflation edges higher in July as PCE tops forecasts
By Iain Gilbert
Date: Wednesday 26 Aug 2026
(Sharecast News) - US inflation ticked slightly higher in July, according to the Federal Reserve's preferred gauge, with both headline and core readings showing modest monthly increases.
The Bureau of Economic Analysis' personal consumption expenditures price index rose 0.2% on the month and 3.7% year‑on‑year in July, both a touch above consensus, while core PCE, which strips out volatile food and energy costs, also increased 0.2% on the month and 3.3% annually, matching forecasts.
July's report showed personal income up 0.4% and spending rising 0.2%, both stronger than expected.
Goods prices fell 0.1%, driven by a 2.7% drop in gasoline and other energy goods and a 0.9% decline in household furnishings and durable equipment. Services prices, on the other hand, climbed 0.3%, led by a 1.2% rise in financial services and insurance and a 0.3% increase in housing.
July's reading comes as policymakers weigh their next move, with inflation still running above the central bank's 2% target despite softer monthly prints over the summer.
Reporting by Iain Gilbert at Sharecast.com
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