U.S. PCE Price Index Increases In Line With Estimates In September
(RTTNews) - A closely watched report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of September.
The Commerce Department said its personal consumption expenditures (PCE) price index climbed by 0.5 percent in September after rising by 0.3 in August. The increase matched expectations.
The report also said the annual rate of growth by the PCE price index accelerated to 3.6 percent in September from 3.4 percent in August, while was also in line with estimates.
Excluding food and energy prices, the core PCE price index rose by 0.3 percent in September, matching an upwardly revised increase in August as well as expectations.
The annual rate of growth by the core PCE price index ticked up to 3.1 percent in September from 3.0 percent in August. The uptick also came in line with economist estimates.
The Federal Reserve's preferred readings on consumer price inflation were included in the Commerce Department's report on personal income and spending.
The report said personal income rose by 0.2 percent in September after rising by 0.3 percent in August, while personal spending climbed by 0.5 percent in September after jumping by 0.9 percent in August.
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