US core PCE inflation rose 0.2% in July, below the 0.3% consensus, yet GBP/USD showed minimal reaction.
The US core Personal Consumption Expenditures Price Index (PCE) increased by 0.2% month-over-month in July, missing the 0.3% consensus forecast. This marked the softest monthly reading in recent periods, signaling easing inflation pressures.
Analysts had anticipated a stronger print, with prior months averaging closer to expectations. The data follows a series of mixed inflation reports, though the Federal Reserve has emphasized a data-dependent approach to policy adjustments.
Despite the softer inflation reading, the British pound showed little reaction, with GBP/USD remaining largely unchanged in immediate trading.