What to Look Out for in Economic Data This Week (June 22-26)

The economic calendar is relatively light following the long holiday weekend, but Wall Street will get a key inflation update. This follows the June Federal Reserve meeting, where new Fed Chair Kevin Warsh and the rest of the Federal Open Market Committee opted to keep interest rates unchanged as higher energy prices create upward pressure on inflation.

Economic reports we're watching

Thursday, June 25: Personal Consumption Expenditures Price Index (PCE) and core PCE: Inflation is a hot topic these days and the May PCE data are likely to show that the rate of price growth remains elevated.

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Read on to see the entire weekly economic calendar of the most important upcoming economic reports scheduled to be released in the next several days. At times, we provide expanded previews and recaps for select reports.

Please check back often. This economic calendar is updated regularly. Bolded reports are those considered more noteworthy. All reporting times are in Eastern Time.

Monday (6/22)

There are no noteworthy economic reports scheduled for release on Monday, June 22.

Tuesday (6/23)

Wednesday (6/24)

Thursday (6/25)

May PCE gives Wall Street the latest look at inflation

Inflation readings have come in higher than expected recently as the extended conflict in the Middle East kept energy prices elevated.

While a recently signed peace plan has oil prices back down to levels not seen since the war started, the impact on inflation is likely to continue for the time being.

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We'll get the latest price-growth figures this Thursday with the release of the May PCE and core PCE, the Fed's preferred measure of inflation.

In April, PCE was up 0.4% month over month and 3.8% year over year. Core PCE, which excludes volatile food and energy costs, was up 0.2% monthly and 3.3% higher vs the year prior. It was the biggest annual increase for core PCE since late 2023.

This time around, Wells Fargo economists expect PCE to be up 0.5% month over month due to "energy-related costs," which will push the annual rate to 4.1%. The forecast a 0.3% month-over-month rise in core PCE, and a 3.4% year-over-year increase.

Friday (6/25)

Reporting schedules are provided Forex Factory and MarketWatch.

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