U.S. annual inflation ticks higher in July; jobless claims decline in latest week

Investing.com — The pace of annual inflation in the U.S. accelerated last month, but remained near recently lower levels, as Federal Reserve officials mull over potentially pulling back from their recent policy tightening campaign at their next meeting in September.

The (PCE) index rose by 3.3% in the 12 months through July, meeting estimates. The figure was faster than an increase of 3.0% in the prior month.

On a basis, the number was unchanged as anticipated at 0.2%.

Meanwhile, the , which strips out volatile items like food and energy, quickened to 4.2% year-on-year and held at 0.2% month-on-month.