Fed's favored inflation gauge rose more than expected in July

The U.S. PCE inflation, which serves as the favored inflation gauge for the Fed, experienced an increase in July. This rise was slightly higher than what analysts had previously expected. The data indicates that price pressures remained more persistent than anticipated during this period, reflecting a trend that exceeds the forecasts set by economists. Consequently, the latest figures show a marginal but notable uptick in the core metric used by the Federal Reserve for policy decisions.