The core PCE price index advanced 0.2% in July, a 3.3% rise from a year earlier.

U.S. production at factories, mines, and utilities rose 0.2% in July, following an upwardly revised 0.3% rise in June.

Goods exports fell 1.8% in June, led by a slide in industrial supplies, but imports dropped by 2.6%.

However, overall industrial production rose 0.1% for a second month, with output at utilities and mining each increasing 0.4%.

The consumer price index fell 0.4% from May to June, dragged down by big gas-price declines in the wake of the memorandum of understanding intended to end the war in Iran. Core CPI was flat from May to June.

Exports' value fell by 3.2% in May, while imports rose 3.3%, to the highest level since March 2025,

Cheaper gas helped assuage some of Americans' anxiety, but views of job opportunities deteriorated and consumers expect little improvement in the coming months.

The value of exports rose 2.6% in April, driven by a 60% increase in crude oil, while imports advanced 2%, led by computers and semiconductors.