Summary:
The October PCE price index rose 2.3% YoY, as expected. Excluding food and energy, core inflation climbed 2.8% compared to last year.
PCE price index Nov
20/12/2024 (Fri)
Previous: 2.8% Forecast: 2.9%
The October PCE price Index increased in line with expectations, up 2.3% from year-ago levels. When food and energy costs are factored out, the measure of inflation increased 2.8% from one year ago.
Services prices generated most of the inflation for the month, rising 0.4%, while goods fell 0.1%. The personal saving rate slipped to 4.4%, reaching the lowest level since January 2023.
Despite disinflation over the past two years, the cumulative effects of inflation have hit consumers hard, particularly on the lower end of the wage scale.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
EUR/GBP rises above 0.8500 as soft UK data boosts BoE rate cut bets, while hawkish ECB remarks provide support for the euro.
2025-06-13
As the decline of US dollar hegemony intensifies, US-China trade tensions ease but tariffs stay high, raising global economic risks.
2025-06-13
London's FTSE 100 hit an all-time high on Thursday, led by energy shares, but geopolitical concerns limited further gains compared to European peers.
2025-06-13
