2023-09-29 12:43:27
It increased by 0.3 points compared to July according to the PCE index.
Inflation in the United States accelerated to 3.5% year-on-year in August driven by the rise in gasoline prices at the pump according to the PCE index. It was 3.2% in July.
Over one month alone, the price increase is 0.4%, as expected, compared to 0.2% in July.
But excluding volatile energy and food prices, so-called underlying inflation is slowing, to 3.9% over one year compared to 4.3% in July.
PCE inflation is the one that the American central bank (Fed) is particularly looking at, which wants to bring it down to 2.0% over one year. It is published later in the month than another index, the CPI, which refers to and on which pensions are indexed.
Slowdown in household spending
These two measures moved in the same direction in August, as the CPI index also experienced a second month of increase, at 3.7% year-on-year, with a slowdown in underlying inflation.
Furthermore, American household spending slowed last month, growing by 0.4%, following a rebound of 0.9% in July. Their income started to rise once more, +0.4% compared to +0.2%.
At the end of its last meeting on September 20, the Fed showed itself to be less optimistic than before regarding the trajectory of inflation, the slowdown of which might be less rapid than expected.
It thus announced a maintenance of rates at their current level, the highest in 22 years, but forecasts an additional increase in rates by the end of 2023, and sees them remaining higher in 2024 than what it previously anticipated.
Because the slowdown in inflation might be slower than hoped. After slowing down for a year, price increases rebounded this summer in the United States, due in particular to the global rise in oil prices.
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