The personal consumption expenditures (PCE) index, an inflation gauge the Federal Reserve uses as its primary barometer, rose to its highest level since January 1982, the Bureau of Economic Analysis report.
The PCE index measures consumption expenditures. The index rose 6.8% in June from June 2021. The increase was the largest since a 6.9% year-over-year increase in January 1982.
The PCE index rose 1% in June from May, tying its largest monthly gain since February 1981 and offering a sign that inflation continues to increase.
Core PCE, which measures consumption expenditures excluding food and energy, rose 4.8% in June from its June 2021 levels. Core PCE rose 0.6% in June from May, the index’s largest monthly increase since April 2021.
