Report
Fed’s preferred inflation gauge rises in September; spending flattens after inflation surge
The Hill reports 3.6% annual PCE inflation; MarketWatch says September’s spending increase largely reflected higher gas and transportation costs.
TLDR
The Hill reports that the Fed’s preferred PCE price index rose 0.5% in September, putting annual inflation at 3.6%, up from 3.4% in August. MarketWatch reports that consumer spending rose sharply, but the increase largely reflected households spending more on gas and transportation after energy costs rose.
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