the staff of the Ridgewood blog
Ridgewood NJ, in October, inflation showed signs of further moderation, as indicated by the Federal Reserve’s preferred price gauge.
The Personal Consumption Expenditures (PCE) Index recorded a 3% year-over-year growth for the month, a decline from September’s 3.4% and in alignment with projections. The “Core” PCE, excluding the volatile food and energy sectors, displayed a 3.5% growth, down from the previous month’s 3.7%, consistent with economists’ expectations surveyed by Bloomberg.
On a monthly basis, core PCE exhibited a 0.2% increase in October, a reduction from the 0.3% observed in September.
Core PCE holds particular significance as the inflation metric frequently referenced by Federal Reserve Chair Jerome Powell, rendering it closely monitored by investors.
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