US core inflation eases to 3.3% in June as September Fed rate hike remains in focus

US core PCE inflation eased to 3.3% in June, matching expectations, from 3.4% in May.

Core inflation remains above the Federal Reserve's 2% target, with monthly core prices rising 0.1%.

Overall PCE inflation fell 0.1% month-over-month in June and was 3.7% higher than a year ago.

The Federal Reserve kept interest rates unchanged at 3.5% to 3.75% in July, but three officials dissented in favor of a quarter-point hike.

Renewed Iran conflict and rising oil prices may push inflation higher, despite June's temporary easing.