US PCE Index Shows Inflation Declined to 2.5% in June, Crypto Markets React Positively
The latest data released by the US Department of Commerce showed that the inflation rate of the US personal consumption expenditures (PCE) index slowed down, from 2.6% in the previous month to 2.5% in June.
On a month-on-month basis, the PCE data rose slightly by 0.1% in June, compared with a flat performance in May. However, the core PCE index (excluding food and energy prices) showed that the inflation rate was stable at 2.6%, slightly lower than the expected 2.5%. The month-on-month change rate of core PCE rose to 0.2%, an increase from the 0.1% increase in May.
The cryptocurrency market reacted positively to the release of the PCE data, reflecting people's relief about the decline in inflation. The mixed data also sparked debate about the upcoming policy decision of the Federal Reserve. Many market observers are now speculating whether the Fed will maintain the current interest rate or adjust the interest rate to balance the inflation dynamics.
To summarize, the PCE index in June reflects signs of slowing inflation, providing a nuanced perspective on the current economic situation. The positive reaction of the cryptocurrency market reflects investors' expectations of a less aggressive stance by the Federal Reserve. These data help guide future financial strategies and policy decisions, highlighting the critical balance that central banks must maintain between promoting growth and controlling inflation.
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