Core PCE Inflation Comes In as Expected, Paving Way for October Rate Cut

Inflation picked up in line with economists’ expectations in August, leaving an opening for a possible interest rate cut in October by the Federal Reserve. The core personal consumption expenditures price index, which excludes food and energy and is the Fed’s preferred inflation gauge, rose 0.2% from the month prior and 2.9% year over year. In comparison, in July, core PCE rose by 0.3% from a month earlier and 2.9% from a year earlier.

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