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US July PCE Index rose 0.2% month-on-month, higher than expected, sparking market concerns about a potential Federal Reserve rate hike.
Data released by the U.S. Department of Commerce on Wednesday showed that the Personal Consumption Expenditures (PCE) price index rose by 0.2% month-over-month in July, higher than the 0.1% predicted by Wall Street economists. This renewed increase in inflation, significantly above the Federal Reserve's target, could prompt the Federal Reserve to vote on an interest rate hike next month.
Source：MarketWatch · Source Link
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