October’s US Personal Consumption Spending (PCE) Core Price Index fell short of market expectations for month-on-month growth. Private consumption expenditure has risen steadily. It was a favorable outcome for the US Fed, which aims to curb upward pressures on prices.
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Adjusted for inflation, real personal consumption expenditure increased by 0.5% compared to the previous month. Growth accelerated from September’s 0.3% increase. Before adjusting for inflation, PCE increased by 0.8%.
Personal income increased by 0.7% from the previous month. Market expectations were for a 0.4% increase.
See table for detailed statistics.
Original title:US Core PCE Prices Rise Less Than Expected; Spending earnings(excerpt), October US personal spending up 0.8% M/m, 0.8% estimate (excerpt)
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