U.S. PCE Inflation Holds at 3.7% in July as Core Rate Stays at 3.3%

The U.S. personal consumption expenditures price index rose 0.2% in July and 3.7% from a year earlier, the Bureau of Economic Analysis said. Core PCE, excluding food and energy, also increased 0.2% monthly and remained 3.3% above July 2025. Personal income grew $115.1 billion, or 0.4%, while disposable income rose $125.9 billion, or 0.5%. Current-dollar consumer spending increased $36.3 billion, or 0.2%, as an $86.2 billion rise in services outweighed a $49.9 billion decline in goods; the personal saving rate was 3.0%.