The October PCE report was out this morning. PCE price index was flat and core PCE went up 0.2% MoM in October. Core PCE inflation is the 2% target the Fed is trying to optimize for. Core PCE continues to trend down on an annualized basis and is now at 3.5% YoY. It probably will take a few more months for the core PCE to go below 3% but it’s unclear if we will get to 2% in 2024. Overall, October’s inflation number is quite muted and personal consumption expenditures only increased moderately. October
11/30/2023: Core PCE was up 0.2% in October
11/30/2023: Core PCE was up 0.2% in October
11/30/2023: Core PCE was up 0.2% in October
The October PCE report was out this morning. PCE price index was flat and core PCE went up 0.2% MoM in October. Core PCE inflation is the 2% target the Fed is trying to optimize for. Core PCE continues to trend down on an annualized basis and is now at 3.5% YoY. It probably will take a few more months for the core PCE to go below 3% but it’s unclear if we will get to 2% in 2024. Overall, October’s inflation number is quite muted and personal consumption expenditures only increased moderately. October