【Zillow】Below Expected Core Inflation In August Holds Back Rapid Rise in Yields, Mortgage Rates

• The Personal Consumption Expenditures (PCE) price index rose 0.4% in August, after rising 0.2% in July. Annual growth in the PCE price index rose to 3.5% in August from 3.4% in July.
• Core PCE – which excludes food and energy – slowed to 0.1%, down from 0.2% in July. The annual increase in core PCE fell to 3.9% – down from 4.3% in July.
• Annual services inflation moderated to 4.9% in August, down from 5.2% in July. The housing component of the index is up 7.4% from a year ago easing from 7.7% in July.

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