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US Inflation Moderates but Still Above Fed's Target; Personal Spending Rises in September

US Inflation Moderates but Still Above Fed's Target; Personal Spending Rises in September

CointimeCointime2023/10/27 14:18
By:Cointime

The US Bureau of Economic Analysis has released the personal consumption expenditures (PCE) inflation data for September, with the annual PCE inflation in line with market forecasts at 3.4%. The Federal Reserve's preferred gauge for measuring inflation, the annual core PCE, also came in at 3.7%, falling from 3.9% last month. However, the core PCE month-over-month rose to 0.4% against the expected 0.3%, indicating that inflationary pressures continue to slowly moderate. The US stock futures rose on Friday, while Bitcoin and Ethereum are expected to continue rising as PCE inflation cools slowly.

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