October PCE disappoints but no rate cut likely

27 November 2019

 

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 2.0% in mid-2018, the annual rate then hovered in a range between 1.8% and 2.0% through to the end of 2018 before dropping in the first quarter of 2019.  The latest figures have now been published by the Bureau of Economic Analysis as...

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