US: Annual core PCE price index drops to 1.8% in October vs 1.9% expected
|The data published by the U.S. Bureau of Economic Analysis on Thursday revealed that the core Personal Consumption Expenditures (PCE) price index, the Fed's preferred gauge of inflation, rose 0.1% and 1.8% in October on a monthly and yearly basis, respectively, and both readings fell short of analysts' estimates.
Key takeaways from the press release
- The PCE price index increased 0.2 percent. Excluding food and energy, the PCE price index increased 0.1 percent.
- Personal income increased $84.9 billion (0.5 percent) in October.
- Disposable personal income (DPI) increased $81.7 billion (0.5 percent) and personal consumption expenditures (PCE) increased $86.9 billion (0.6 percent).
- Personal saving was $967.8 billion in October and the personal saving rate, personal saving as a percentage of disposable personal income, was 6.2 percent.
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