Fed's favored inflation gauge showed prices pulled back in June

The Federal Reserve's preferred inflation gauge fell in June, as the pace of price growth pulled back amid volatility in energy markets.The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index declined 0.1% on a monthly basis in June and was up 3.7% from a year ago. Both figures were in line with the expectations of economists polled by LSEG.Core PCE, which excludes volatile measurements of food and energy prices, was up 0.1% on a monthly basi