ALREADY IN AN HOUR: The basic price index on private consumption expenditure in the US
Dear traders,
In an hour, at 15:30 Kiev time, the US Department of Commerce will publish data on income and expenditure of individuals for May, as well as the basic price index of personal consumption expenditure in the US, which is the main indicator for determining the Fed’s inflation.
- According to the consensus forecast, it is expected that the basic price index of spending in the US for the past month will grow by 0.2% after a similar growth in April.
- On an annual basis, the basic price index of personal consumption expenditure for May should grow by 1.9% against growth of 1.8% in April.
The Fed uses the cost index to determine whether it is necessary to raise or lower the interest rate. The goal is to keep inflation at 2% or lower.
In June, the US central bank raised its interest rate expectedly and pointed to two more interest rate increases till the end of this year. (Investing.com)
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