The good news is that price increases were in line with expectations. The bad news is that prices are still rising above the Fed target of 2%. Worse: the core Personal Consumption Expenditures (PCE) index strips out food and energy (which everyone uses).
The most recent data on the Federal Reserve's preferred inflation metric reveals that prices rose in September, aligning closely with Wall Street’s projections.
The core Personal Consumption Expenditures (PCE) index, which excludes the volatile costs of food and energy and is a key measure for the Federal Reserve, saw a 0.3% increase month-over-month in September. This figure matched Wall Street’s expectations but was higher than August’s increase of 0.1%.
Year-over-year, prices rose by 2.7% in September, slightly above Wall Street’s anticipated 2.6% but consistent with the 2.7% rate observed in August. Meanwhile, the overall PCE showed an annual increase of 2.1%, marking its slowest pace since February 2021. ...
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