Fed insider Nick Timiraos stated that the PCE report did not significantly alter the previously known trend regarding whether price pressures are genuinely easing or merely due to changes in measurement. The June and July data performed well, but this information was already known to the market. August data showed that this trend did not continue, which was evident after the release of PPI and CPI data. Regardless of changes in measurement methods, market-based prices are currently running at around 3%. The 12-month readings look less unfavorable, but inflation has not made progress towards the 2% target since April 2025.