US PCE Inflation Data Confirm Disinflation Trend Continues

The US Personal Consumption Expenditures (PCE) Price Index confirmed a steady disinflation trend in June. The headline index fell by 0.1% month-over-month after a revised 0.5% increase in May, while the annual rate eased to 3.7% from 4.1%, matching market expectations.

The Core PCE Price Index, the Federal Reserve's preferred measure of underlying inflation, rose by 0.1% MoM after increasing 0.3% in May. On an annual basis, core inflation eased to 3.3% from 3.4% previously, also matching analysts' estimates.

The data confirms that the disinflation process in the US continues without any major surprises for financial markets, leaving expectations for the Federal Reserve's monetary policy path largely unchanged.