Annual inflation stood at 2.6% in June
The official PCE index was published on Thursday, hours before the entry into force of new tariffs on imports.
The official Fed benchmark PCE index reported that inflation continued to rise in June, when it stood at 2.6% on a 12-month basis. The report was released Thursday, hours before new tariffs on imports were set to go into effect.
Twelve-month inflation in May stood at 2.4%.
Core inflation, which excludes the more volatile food and energy sectors, reached 2.8% last month.
Interest rates
The data comes the day after the Federal Reserve decided to hold interest rates steady for the fifth consecutive meeting, between 4.25% and 4.5%, despite pressure from President Donald Trump to lower them.
The Trump administration imposed universal tariffs of 10% in April, plus additional duties on imports of steel, aluminum and automobiles.
As of this Friday, new customs tariffs should go into effect for most U.S. trading partners.
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