TechFlow news, July 31 — According to Jinshi Data, the Federal Reserve's preferred core inflation gauge accelerated in June, reaching one of the fastest rates so far this year, while consumer spending showed almost no growth, highlighting factors causing policymakers to diverge on interest rate policy. Data released Thursday showed the "core personal consumption expenditures (PCE) price index," which excludes food and energy prices, rose 0.3% from May. On a year-over-year basis, it increased 2.8%, reflecting limited progress in curbing inflation over the past year. The data indicated real consumer spending adjusted for inflation rebounded slightly in June after declining in May. These figures suggest conflicting forces in the economy are creating divisions among Fed officials regarding the path of monetary policy. On one hand, progress on inflation has largely stalled, and central bank officials are concerned that President Trump's tariffs could exert further upward pressure on prices. On the other hand, reduced consumer spending driven by a weakening labor market could lead to a broader economic slowdown.
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