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September’s PCE index, the Federal Reserve’s preferred inflation gauge, showed persistent elevated consumer prices. Headline PCE rose 0.3% monthly and 2.8% annually, matching expectations. Core PCE increased 0.2% monthly and a slightly cooler 2.8% yearly. Policymakers prioritize headline PCE for their 2% target, but monitor core data for a clearer inflation trend. Goods prices accelerated, driven by nondurable goods. The data release was delayed due to the recent government shutdown. These figures are critical as the Fed prepares for its upcoming policy meeting next week.
