Core PCE inflation slows in September; ahead of FOMC projections

27 October 2023

 

Summary: US core PCE price index up 0.3% in September, as expected; annual rate slows 3.8% to 3.7%; ANZ: improvement slightly ahead of FOMC projections; Treasury yields generally fall; Fed rate-cut expectations for 2024 firm a little. One of the US Fed’s favoured measures of inflation is the change in the core personal consumption expenditures (PCE) price index. After hitting the Fed’s target at the time of 2.0% in mid-2018,...

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