Market Updates
PCE Price Index Slowed In October
Brian Turner
30 Nov, 2023
New York City
The personal consumption expenditure price index was flat on a monthly basis in October, the Bureau of Economic Analysis reported Thursday.
The alternative watered-down measure of inflation, preferred by policymakers, was the weakest since July 2022, after rising 0.4% in September and August.
The annual rate also slowed to 3.0% from 3.4% in September, a low level not seen since March 2021.
Services prices and food prices rose 0.2% on the month, but goods prices declined 0.3% and energy prices fell 2.6%, weakening the price increase in the month.
Moreover, the annual core PCE inflation, which excludes food and energy, eased to 3.5% from 3.7%, a new low in 27 months.
Personal income and spending inched up 0.2% from the previous month, the monthly report showed.
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