The price of goods and services rose 0.4% in June, slowerthan the 0.5% growth during May, according to the core personal consumption expenditures (PCE) price index released Friday morning. The June reading was lower than the consensus expectation for 0.6% growth.
Why it matters: The core PCE is the inflation measure the Federal Reserve watches most closely. June's reading is the second month in a row of decelerated price growth, giving the Fed breathing room to design a pullback strategy from its emergency market support.
