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US core PCE price index rises 5% annually in October

US core PCE price index rises 5% annually in October
Fed's most preferred inflation indicator gains 0.2% from September

By Ovunc Kutlu

ISTANBUL (AA) - The core personal consumption expenditures (PCE) price index increased 5% annually in October, according to data released Thursday.

The US Federal Reserve's preferred and most reliable inflation indicator came in line with the market expectation, while it showed an annual increase of 5.2% in September.

It gained 0.2% in October, below estimates of a 0.3% increase, after posting a monthly increase of 0.5% in September.

The PCE price index, which includes food and energy prices, rose 6% annually in October, after gaining 6.3% the previous month.

The PCE price index increased 0.3% in October, on top of a 0.3% gain in September.

The index is closely watched by the Fed, which raised interest rates by another 75 basis points for a fourth straight time at its last meeting Nov. 1 - 2.

source: News Feed
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