The Core Personal Consumption Expenditures (PCE) Price Index for June rose just 0.1%, better than forecasts for 0.2%, and down from 0.3% in May.
On a year-over-year basis, core PCE prices rose 3.3%, in line with forecasts and down from 3.4% in May.
While PCE prices are a key inflation gauge looked at by the Fed, this is June data and the calendar is about to turn to August.
In other economic news, the preliminary estimate for annualized second quarter GDP growth was just 1.5% versus a forecast 2.1%.
Initial jobless claims continued at a very slow pace, rising to 197,000 from last week’s 188,000.
Markets aren’t really reacting, bitcoin continuing with a small gain to $64,800 and Nasdaq futures higher by 1.7% on the back of a 10% rise in Microsoft following its earnings last night.
Bond yields are modestly higher, continuing to digest yesterday’s policy hold by the Fed and post-meeting comments from Chairman Kevin Warsh.