Key Inflation Rate , Hits Lowest Annual Level , in Almost 2 Years.<br />CNBC reports that inflation continued <br />to show signs of cooling in June, <br />in line with Dow Jones estimates.<br />CNBC reports that inflation continued <br />to show signs of cooling in June, <br />in line with Dow Jones estimates.<br />According to the Commerce Department, <br />the personal consumption expenditures (PCE) <br />price index increased just 0.2% from May. .<br />Compared to the same time in 2022, <br />the PCE index rose 4.1%, slightly lower <br />than the 4.2% previously estimated.<br />CNBC reports that the annual <br />rate marks a significant decrease <br />from the 4.6% pace in May. .<br />After the newest PCE index was released, <br />markets reacted positively, with futures <br />inching higher and Treasury yields lower. .<br />Today’s economic releases reaffirm <br />the current market narrative that <br />inflation is cooling and economic <br />growth is continuing, which is a <br />favorable environment for risk assets. , George Mateyo, chief investment officer at Key Private Bank, via CNBC.<br />The Fed and investors will take comfort <br />in these numbers as they suggest that the <br />inflation threat is dissipating and thus the <br />Fed may now be able to go on vacation <br />and assume an extended pause with <br />respect to future interest rate increases, George Mateyo, chief investment officer at Key Private Bank, via CNBC.<br />CNBC reports that the PCE index reflects <br />that prices have begun to ease following <br />2022’s soaring inflation rates. .<br />The news comes just two days after the Federal Reserve, <br />which closely monitors the PCE index, announced <br />another quarter percentage point interest rate hike. .<br />The news comes just two days after the Federal Reserve, <br />which closely monitors the PCE index, announced <br />another quarter percentage point interest rate hike. .<br />The increase took the central bank’s key <br />borrowing rate to its highest level in <br />over 22 years, reaching 5.25% to 5.5%.
