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When food and gas prices are added back in, PCE rose 2.2% in August — just two-tenths away from the Fed’s 2% inflation target. That was lower than estimates of 2.3% and down from 2.5% in July.
Over the prior year, core prices rose 2.8%, in line with Wall Street's expectations and unchanged from November. On a yearly basis, overall PCE increased 2.6%, a pickup from the 2.4% seen in November.
The latest reading of the Fed's preferred inflation gauge showed prices increased slightly more than expected in June. The core Personal Consumption Expenditures (PCE) index, which strips out the ...
The May PCE report is the latest update on inflation as investors ponder when the Federal Reserve will cut interest rates. Fed's preferred inflation gauge shows prices rose at slowest pace since ...
Meanwhile, the core Producer Price Index (PPI) revealed prices increased by 3.1% annually in October, up from 2.8% the month prior and above economist expectations for a 3% increase.
In the Fed's latest Summary of Economic Projections (SEP), the central bank revealed it now sees core PCE, which excludes the volatile food and energy categories, declining to 2.4% next year.
The PCE price index (PePP), also referred to as the PCE deflator, PCE price deflator, or the Implicit Price Deflator for Personal Consumption Expenditures (IPD for PCE) by the Bureau of Economic Analysis (BEA) and as the Chain-type Price Index for Personal Consumption Expenditures (CTPIPCE) by the Federal Open Market Committee (FOMC), is a United States-wide indicator of the average increase ...
The Commerce Department also reported on Friday that in the year through November, the PCE price index advanced 2.4% after rising 2.3% in October. Excluding the volatile food and energy components ...