Consumer inflation is on the rise again.
The personal consumption price expenditures (PCE) price index rose 3.3 percent in July compared with 12 months earlier, the Bureau of Economic Analysis said Thursday. This was the first acceleration in PCE inflation since April and follows the three percent reading in June.
The PCE price index climbed 0.2 percent compared with a month earlier, matching the June gain and up from May’s 0.1 percent. Before rounding, month-to-month inflation actually edged up a bit, rising 0.213 percent compared with June’s 0.205 percent.
