The Federal Reserve’s preferred inflation gauge showed price increases accelerated in June, remaining above the 2% target. The core PCE index rose 0.3% from the prior month, with annual core prices up 2.8%. Fed Chair Powell stressed it’s still early to determine tariff impact on inflation. Personal spending rose 0.3%.

Thursday’s PCE inflation data follows the Fed’s decision to keep interest rates unchanged. Real personal spending increased by 0.3%, below estimates, while personal income rose 0.3%. The release also showed mixed signs of slowing economic growth activity. Read more financial and business news from Yahoo Finance for updates.

Read more at Yahoo Finance: Fed’s preferred inflation gauge shows price increases accelerated in June amid tariff uncertainty