The core PCE price index, officially referred to as the PCE Price Index Excluding Food and Energy, is a key component of the monthly Personal Income and Outlays report. This essential index provides a clearer insight into the fundamental inflation pattern by deliberately excluding the categories of food and energy.
These two sectors often experience more frequent and significant price fluctuations compared to other goods and services. Consequently, the core PCE price index holds considerable importance for the Federal Reserve in shaping its monetary policy decisions.
The Federal Reserve’s primary inflation indicator, the core personal consumption expenditure price index, rose 0.3% in August, over the 0.1% threshold and in accordance with the Dow Jones projection.
Personal spending increased by 0.7%, above the 0.5% prediction and exceeding expectations.
According to a Commerce Department study released on Friday, although consumer spending was even stronger than anticipated in September, inflation surged.
While consumer spending increased and the Federal Reserve’s preferred gauge of underlying inflation advanced to a four-month high in September, this will pave the way for another interest rate hike in the coming months.
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