Inflation in the US: PCE drops to 6% in October, the FED's favorite measure
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In its most recent balance sheet, the Department of Commerce announced that the Personal Consumption Expenditures (PCE) price index stood at 6%, a lower figure than the 6.3% presented in September.
This inflation indicator allows the Federal Reserve to have an overview of the behavior of consumer prices.
Regarding September, Prices increased 0.3% in October, which represents the same increase registered during the eighth and ninth months of this year.
Apart from the cost of energy and volatile food, the core PCE rose 0.2% this month, and in the last 80 months its increase reached 5%.
While the figures for Annual basic PCE coincided with the forecasts of the economists consulted by Refinitiv; the monthly increase was below the 0.3% projected by the experts.