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US PCE prices slow in October
The US PCE price index slowed in October, as did the personal income index.
According to Bureau of Economic Analysis data released today, Thursday, November 30, the personal consumption expenditures price index - the Fed's preferred inflation index - which excludes food and energy, rose by about 3.5% and 0.2% on an annual and quarterly basis, respectively.
These levels are lower than those recorded in October, when the index recorded levels of 3.7% and 0.3% on an annual and monthly basis, respectively.
As for the main inflation index, it slowed to 3% last month on an annual basis, after it had recorded 3.4% in October.
Markets are awaiting the Federal Reserve meeting next month, to determine whether the Fed will raise interest rates one additional time before the end of 2023.
