US Core PCE YoY for June 2.6% versus 2.5% estimate

• Prior month core PCE 2.6%
• Core PCE MoM 0.2% versus 0.1% estimate. Unrounded was lower than the 0.2% gain at 0.188%
• Core PCE urine year 2.6% versus 2.5% estimate. Last month 2.6%
• PCE MoM 0.1% vs 0.1% estimate. The unrounded was lower than 0.1% at 0.0788%
• PCE YoY 2.5% versus 2.5% estimate and 2.6% prior
• Personal income +0.2% versus 0.4% estimate. Prior month revised down to 0.4% from 0.5%. Wages and salaries were up 0.3%.
• Personal spending 0.2% versus 0.4% last month (revised from 0.3%).
• Savings rate came in at 3.4% versus 3.5% last month

The core PCE was a bit higher than expectations which is somewhat congruent with the core PCE data released yesterday through the GDP report.

The Fed pricing sees 67 basis points of cut by the end of the year with a cut in September priced in.

This article was written by Greg Michalowski at www.forexlive.com.