Core PCE price growth steady at 2.7%

Summary: US core PCE price index up 0.3% in September, in line with expectations; annual rate steady at 2.7%; ANZ: core PCE deflator largely unchanged for past five months; Treasury yields decline; Fed rate-cut expectations firm, four 25bp cuts priced in. 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...

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