US Annual Core PCE Inflation Rises the Least Since April 2021

The US core PCE price index, the Federal Reserve’s preferred gauge to measure inflation, rose by 3.5% from the previous year in October of 2023, the least since April 2021.

The result was in line with market expectations and marked a slowdown from the previous month’s 3.7%.

On a monthly basis, core PCE prices advanced by 0.2%, easing from the 0.3% increase in September.