According to CoinMeta, data from the Dallas Federal Reserve's revised average PCE price index shows a year-on-year increase of 1.4% in June, which is lower than the 2.7% in May. This figure is significantly lower than the overall PCE rate of 3.7% and the core PCE rate of 3.3%, and it represents the lowest level since 2020. The revised average PCE is designed to filter out the impact of abnormal price fluctuations and provide a more accurate inflation trend. The president of the Dallas Federal Reserve, Warsh, stated in his recent testimony to Congress that the revised average is his preferred measure of inflation, and emphasized the need for more evidence to determine the best inflation indicators and policy responses. Today's data is encouraging, but a single report is not enough to change the inflation outlook; a sustained trend is required to have a substantial impact.