The Federal Reserve’s preferred inflation gauge showed that consumer prices remained elevated in September, ahead of the central bank’s policy meeting next week.
The Commerce Department on Friday reported that the personal consumption expenditures (PCE) index rose 0.3% in September from a month ago and is up 2.8% from last year. Those figures were in line with the estimate of LSEG economists.
Core PCE, which excludes volatile measurements of food and energy prices, was up 0.2% on a monthly basis and 2.8% year over year. The core monthly figures were in line with expectations, while the year over year figure was slightly cooler.
The release of September data was delayed by the federal government shutdown that lasted 43 days, the longest in U.S. history.
This is a developing story. Please check back for updates.
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