Inflation and PCE Price Index
The PCE price index, a key measure of inflation, showed only a marginal increase of less than 0.1 percent in October. When food and energy prices were excluded, the core PCE price index saw a 0.2 percent rise. Annually, the PCE price index escalated by 3.0 percent, with service prices climbing by 4.4 percent, indicating a balanced inflation scenario.
U.S. Economy Sees Steady Growth in Income and Spending
October 2023 marked a period of steady economic growth in the United States, with a modest increase in personal income and consumer spending. The Bureau of Economic Analysis reported a $57.1 billion increase…
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