{"id":1984885,"date":"2023-07-28T08:42:01","date_gmt":"2023-07-28T12:42:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-declined-to-3-in-june-according-to-key-gauge-watched-by-fed\/"},"modified":"2023-07-28T08:45:04","modified_gmt":"2023-07-28T12:45:04","slug":"inflation-declined-to-3-in-june-according-to-key-gauge-watched-by-fed","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-declined-to-3-in-june-according-to-key-gauge-watched-by-fed\/","title":{"rendered":"June saw a 3% decline in inflation, as reported by the Fed&#8217;s key gauge."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Finflation-declined-to-3-in-june-according-to-key-gauge-watched-by-fed%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1984885&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Inflation Falls to 3% \u2062Annual Rate in June<\/h2>\n<p>The latest report from the Bureau of Economic Analysis\u2062 reveals that\u200b inflation, as measured by the gauge favored by the \u200bFederal Reserve, has fallen to a 3% annual rate in June. This decline in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-declined-to-3-in-june-according-to-key-gauge-watched-by-fed\/\" title=\"June saw a 3% decline in inflation, as reported by the Fed's key gauge.\">personal consumption expenditures\u200b price index<\/a> is \u200ba positive sign that inflationary pressures are easing, thanks to the\u200b Fed&#8217;s efforts to slow down economywide spending by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-delivers-bad-news-about-expectations-for-inflation-raising-interest-rates-report\/\" title=\"Federal Reserve Delivers Bad News About Expectations For Inflation, Raising Interest Rates: Report\">raising interest rates<\/a>.<\/p>\n<p>While the inflation rate is still higher than the central bank&#8217;s goal of 2% annual price\u200b growth, it is\u200c good news\u200d for the \u200ceconomy and the Biden administration. The administration has been highlighting positive economic \u2063developments \u200das evidence that \u200cPresident Joe Biden&#8217;s agenda is working.<\/p>\n<h3>Core PCE Inflation \u200bat\u2063 4.1% Year-Over-Year Rate<\/h3>\n<p>Another key\u200c measure of inflation, the core \u200bPCE inflation, which \u200bexcludes energy and food prices, is currently at \u200ba 4.1% year-over-year rate. This measure is generally less volatile and provides \u2062further insight\u2062 into the state of \u2064inflation.<\/p>\n<blockquote>\n<p>This latest PCE report follows other recent inflation reports that showed\u200c more significant declines than expected by\u200c many economists.<\/p>\n<\/blockquote>\n<p>The consumer\u2064 price \u200bindex also \u200cindicates a decrease in inflation, with a 3% annual rate in \u200dJune, significantly lower than\u200d the historic highs\u200b recorded in June 2022. Additionally, wholesale inflation remains nearly \u2064flat, according to\u2064 the most\u2062 recent data from June.<\/p>\n<p>These\u2064 declines in inflation are accompanied by other positive indicators\u2064 in the economy, such as a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-chair-no-interest-rate-hikes-until-inflation-spike\/\" title=\"Federal Reserve Chair: No <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-says-in-person-learning-one-day-a-week-counts-as-reopening\/\" title=\"Biden admin. says in-person learning one day a week counts as \u2018reopening\u2019\">interest rate hikes<\/a> until inflation spike&#8221;>strong labor market<\/a>. In June, the economy added \u2064209,000 jobs, and the unemployment\u200d rate has remained consistently low at around 3.4%\u2062 to 3.7% over the\u2063 past year.<\/p>\n<p>President Biden\u200c received further encouragement when it was announced that \u2063the gross \u2063domestic \u2062product for the second quarter exceeded consensus expectations. \u200cThis demonstrates that the economy is thriving despite the Fed&#8217;s interest rate hikes,\u2063 which are currently at their highest level since the dot-com bubble in 2001.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\">Click here<\/a> to read more from The Washington\u2062 Examiner.<\/p>\n<p>The Bureau of Economic Analysis reported that economic \u200dgrowth increased to a 2.4% annual rate in the second quarter of this year, up from \u20632% in the\u2062 previous quarter. This surpassed economists&#8217; expectations of a 1.7% rate.<\/p>\n<p>The Fed recently raised rates, bringing its \u200btarget range to \u200b5.25% to 5.50%. While there were previous plans for another rate hike \u200bthis year, most investors now believe that the July \u200bincrease will be the final adjustment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In June, inflation dropped to a 3% annual rate, according to the Federal Reserve&#8217;s preferred gauge. The Bureau of Economic Analysis reported a decline in the personal consumption expenditures price index, indicating that inflationary pressures are easing due to the Fed&#8217;s efforts to slow it down.<\/p>\n","protected":false},"author":1,"featured_media":1984886,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-1984885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1984885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1984885"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1984885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1984886"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1984885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1984885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1984885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}