US PCE inflation eased to 3.7 percent year on year in June, with the core index at 3.3 percent

The US Bureau of Economic Analysis (BEA) published its June personal income and outlays report on Thursday, 30 July 2026. According to the release, the personal consumption expenditures (PCE) price index fell 0.1 percent in June from the previous month, while excluding food and energy it rose 0.1 percent. Compared with June a year earlier, the index was up 3.7 percent and the core index up 3.3 percent. In May the headline index had risen 0.5 percent and the core index 0.3 percent.

Personal income increased by 54.9 billion dollars (0.2 percent) in June and disposable personal income by 48.3 billion dollars (0.2 percent). Personal consumption expenditures rose by 65.2 billion dollars (0.3 percent), of which 58.2 billion dollars went to services and 7 billion dollars to goods. Personal saving was 646.1 billion dollars and the saving rate 2.7 percent.

This index is the Federal Reserve's preferred measure of inflation, and the release comes one day after the Fed held its policy rate in the 3.5 to 3.75 percent range. According to Sahmino data, spot gold was trading at 4,071 dollars at 16:29 on Thursday, 30 July, up 0.36 percent from the previous day. The next report is due on 26 August 2026.