Inflation in the US, as measured by the change in the Personal Consumption Expenditure (PCE) Price Index, was 3% year-on-year in October, the US Bureau of Economic Analysis reported on Thursday. This reading was in line with market expectations and was below the previous month’s 3.4%.
The price index PCE Core inflation, the Federal Reserve’s preferred inflation indicator, rose 3.5% year-over-year, in line with expectations and at a slightly slower pace than the 3.7% increase recorded in September.
On a monthly basis, the PCE price index remained stable and the underlying PCE price index at 0.2%.
Other details of the report have revealed that personal spending increased by 0.2% month-on-month in October, while personal income also rose by 0.2%.
Market reaction to US PCE inflation data
At the same time, the weekly jobless claims report was released. The US Dollar Index DXY has fallen slightly following the release of the report and remains in positive territory trading above 103.15.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
