Core Inflation Hits 2023 High as Fed Rate Hike Odds Climb

June 26, 2026

MPA, June 25, 2026-Liezel Once

The Federal Reserve’s preferred price gauge delivered an uncomfortable reading on Thursday, with core personal consumption expenditures (PCE) inflation climbing to its highest level since October 2023 and headline prices posting a three-year peak — data that further dims any near-term prospect of rate relief for mortgage professionals.