WASHINGTON — The US Federal Reserve's preferred inflation measure cooled further in September and now sits just above its long-term target, according to government data published Thursday, shortly before the presidential election.
WASHINGTON — The US Federal Reserve's preferred inflation measure cooled further in September and now sits just above its long-term target, according to government data published Thursday, shortly before the presidential election.The personal consumption expenditures price index eased to 2.1 percent in the 12 months to September, down from 2.3 percent in August, the Commerce Department announced in a statement.
'Policymakers have made progress in tackling higher inflation by keeping inflation-adjusted interest rates high. But US consumers remain unhappy with the higher cost of living, and the topic remains front of mind for many voters ahead of the election on November 5.Both the Democratic candidate, Kamala Harris, and Republican contender Donald Trump, have floated proposals they say will help bring down the cost of essential everyday items like food and gas.The PCE price index rose 0.
Favored Inflation Measure Cools In Sept.
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