US Inflation Hits Lowest Since Feb 2021
US Inflation Hits Lowest Since Feb 2021

US Inflation Hits Lowest Since Feb 2021

News summary

The Federal Reserve's preferred inflation measure, the Personal Consumption Expenditures (PCE) price index, rose by 2.1% in September, aligning with economists' expectations and reaching its lowest level since February 2021. Core PCE, excluding food and energy prices, increased by 2.7% year-over-year, slightly above forecasts and unchanged from August. This data supports the Fed's cautious approach to interest rate cuts, with a 94% chance of a 25-basis-point cut at the upcoming meeting. Despite inflation cooling, concerns persist over potential inflationary pressures due to factors like robust economic growth and a strong labor market. The report comes just before the Fed's policy decision and the U.S. presidential election, where inflation remains a central issue. Personal spending rose by 0.5%, surpassing expectations, while personal incomes increased by 0.3%.

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Right 36%
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Last Updated
240 days ago
Bias Distribution
36% Center

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