She declared US Department of Commerce In a statement, the PCE price index fell to 2.1 percent on an annual basis in September, compared to 2.3 percent in August.
These numbers were in line with the average expectations of economists polled by Reuters, which keeps the Reserve Bank Federal On track to achieve its long-term goal of 2 percent in the not-too-distant term.
In light of the sharp rise in rates Inflation After the Corona epidemic, the fact that the Federal Reserve’s preferred inflation is now only a tenth of a percentage point away from the US central bank’s target constitutes a major achievement.
The Fed has been able to make progress in curbing inflation by keeping interest rates high, but American consumers are still dissatisfied with the rising costs of living, and this issue remains at the forefront of many voters’ concerns before the elections scheduled for November 5.
Both Democratic nominee Kamala Harris and Republican challenger Donald Trump have presented proposals that they say will help lower the cost of everyday staples like food and gasoline.
The US Commerce Department said the personal consumption expenditures price index rose 0.2 percent on a monthly basis in September. This was in line with expectations as well.
With the exception of sectors Food And volatile energy, the core personal consumption expenditures price index remained unchanged at 2.7 percent year-on-year in September, slightly higher than expectations, and 0.3 percent month-on-month.
US consumer spending exceeds expectations in September
US consumer spending increased slightly more than expected in September, putting spending and the economy on track for greater growth in the final three months of the year.
The Commerce Department’s Bureau of Economic Analysis said consumer spending rose 0.5 percent last month after being revised upward to 0.3 percent in August. Consumer spending represents more than two-thirds of US economic activity.
Economists polled by Reuters had expected consumer spending to rise 0.4 percent after previous reports of a 0.2 percent rise in August.
