Summary:
The October PCE price index rose 2.3% YoY, as expected. Excluding food and energy, core inflation climbed 2.8% compared to last year.
PCE price index Nov
20/12/2024 (Fri)
Previous: 2.8% Forecast: 2.9%
The October PCE price Index increased in line with expectations, up 2.3% from year-ago levels. When food and energy costs are factored out, the measure of inflation increased 2.8% from one year ago.
Services prices generated most of the inflation for the month, rising 0.4%, while goods fell 0.1%. The personal saving rate slipped to 4.4%, reaching the lowest level since January 2023.
Despite disinflation over the past two years, the cumulative effects of inflation have hit consumers hard, particularly on the lower end of the wage scale.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Oil prices steadied on Friday, set for a weekly loss, as the Fed and ECB's cautious stance fueled global economic concerns.
2024-12-20
US stocks plunged, with the Dow Jones hitting a record low. Many strategists see potential for further gains, while Tesla's stock hit a new high.
2024-12-19
Gold rallied over 1% on Thursday in early Asian hours, ahead of a key inflation report, with a 30% gain year-to-date, outpacing US stocks.
2024-12-19
