PiCK
US September PCE Price Index Rises 3.6% Year-on-Year, Matching Estimates
Summary
- The U.S. Commerce Department’s BEA said the September PCE index rose 3.6% from a year earlier, matching market expectations.
- September’s core PCE index rose 3.1% from a year earlier and 0.3% from the previous month, with both readings in line with forecasts.
- The core PCE index is a key gauge the Federal Reserve uses when considering policy decisions, including its benchmark interest rate.
Forecast Trend Report by Period
The U.S. personal consumption expenditures price index for September came in line with market expectations.
The Bureau of Economic Analysis, part of the U.S. Commerce Department, said on October 29 that the September PCE price index rose 3.6% from a year earlier, matching the market forecast of 3.6%.
On a month-over-month basis, the index also rose 0.5%, in line with expectations.
The core PCE price index, which excludes food and energy, increased 3.1% from a year earlier, matching economists’ estimates.
It also rose 0.3% from the previous month, in line with market expectations.
The core PCE index measures the prices U.S. residents pay for goods and services excluding food and energy. It is regarded as a key inflation gauge the Federal Reserve watches before making policy decisions, including on its benchmark interest rate.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul