PCE Index Remains Stubbornly High Amid Ongoing US Trade Fights

The personal consumption expenditures price index (PCE) remains elevated at 3.7%, unchanged from June and above the Federal Reserve's target of 2%.

This inflation measure is separate from the more widely followed consumer price index, which was reported earlier this month.

The PCE index puts less weight on rental costs, which have been cooling steadily in recent months, contributing to its higher reading.