Keeping you up to date on the latest data releases.
- PCE Price Index
The Personal Consumption Expenditures (PCE) price index increased at an annualized rate of 1.5 percent during October. This follows increases of 4.3 percent in August and 4.1 percent in September, and over the past year, the headline PCE price index is up 1.7 percent. The price of energy goods and services, which is a volatile component of the overall index, but has pushed up the headline number over the past few months, decreased 2.1 percent in October. This follows increases of 96.2 percent and 75.6 percent in August and September, respectively. Excluding food and energy prices, the “core” PCE price index increased 1.6 percent for the month, and is also up 1.6 percent since October of last year. This is roughly in line with the current near-term (three-month) trend in year-over-year changes, but a bit lower than average 12-month increases of 1.9 percent during the first quarter and 1.8 percent during the second quarter of this year. The market-based “core” PCE index—which excludes most imputed prices—increased 1.6 percent in October as well, and is up 1.7 percent. over the last twelve months.