Inflation hits lowest level since 2021, Fed's preferred gauge shows
Inflation continued to cool in October, according to the Federal Reserve's favorite price index. The Personal Consumption Expenditures (PCE) Index grew 3% year over year for the month, down from 3.4% in September and in line with expectations. "Core" PCE, which excludes the volatile food and energy categories, grew 3.5%, down from 3.7% from the month prior and also in line with what economists surveyed by Bloomberg had expected. Month-over-month, core PCE rose 0.2% in October, down from 0.3% in September./ Core PCE is the inflation measure ...
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