US: Annual core PCE Price Index rises to 1.6% in June vs. 1.7% expected

According to the data published by the US Bureau of Economic Analysis, the Personal Consumption Expenditures (PCE) Price Index rose 0.1% in June to match May's reading and stayed unchanged at 1.4% annually to fall short of the market expectation of 1.7%. 

The core PCE Price Index, which strips volatile food and energy prices, came in at 02% (MoM) as anticipated. Finally, the core PCE Price Index on a yearly basis, the Federal Reserve's preferred measure of inflation, ticked up to 1.6% from 1.5% in May but missed analysts' estimate of 1.7%. 

With the initial market reaction, the US Dollar Index eased from its session highs and was last flat on the day at 98.05.