PCE Index shows accelerating inflation

Trading Economics/Staff/10-28-2022

“The personal consumption expenditure price index in the United States rose 0.3 percent month-over-month in September of 2022, the same as in the previous month. Prices for goods decreased 0.1 percent, reflecting a decrease in prices for nondurable goods (led by gasoline and other energy goods). Prices for services increased 0.6 percent (led by housing and transportation services). Food prices increased 0.6 percent and energy prices decreased 2.4 percent. Excluding food and energy, the PCE price index increased 0.5 percent.”–  Source: U.S. Bureau of Economic Analysis

USAGOLD note: We are told that the PCE Index is the Fed’s favored inflation indicator. If so, today’s reading showing an acceleration in the annualizewd inflation rate will not offer a great deal of comfort ahead of next week’s rate meeting.

Personal Consumption Expenditure Price Index
(%, year over year)

Chart courtesy of TradingEconomics.com