Washington:The US Federal Reserve’s preferred price index held steady in June near a six-year high and just above the Fed’s two percent target, but energy and goods prices fell for the month, the government reported Tuesday.
The Personal Consumption Expenditures price index, which tracks prices individuals pay for goods and services, rose 2.2 percent compared to June of last year, the same annual inflation rate recorded in May, according to the Commerce Department.
The Fed is due to begin a two-day policy meeting later Tuesday but is expected leave interest rates untouched for another six weeks.
