Federal Reserve microphone: The central conclusion of the PCE report is that it did not significantly change the known trend in the market, that is, whether price pressure is actually easing, or whether price measurement methods have changed. The June and July data performed well, but this has long been known to the market. The August data showed that this trend did not continue, and this was already evident after the PPI and CPI data were released. Regardless of whether the measurement method is adjusted or not, the inflation rate based on market prices is around 3%. The 12-month data doesn't look that bad, but since April 2025, there has been no progress towards the 2% target.

Federal Reserve microphone: The central conclusion of the PCE report is that it did not significantly change the known trend in the market, that is, whether price pressure is actually easing, or whether price measurement methods have changed. The June and July data performed well, but this has long been known to the market. The August data showed that this trend did not continue, and this was already evident after the PPI and CPI data were released. Regardless of whether the measurement method is adjusted or not, the inflation rate based on market prices is around 3%. The 12-month data doesn't look that bad, but since April 2025, there has been no progress towards the 2% target.