Financial News: U.S. Consumer Prices Rise In Line With Estimates

U.S. Consumer Prices Rise In Line With Estimates In October

11/27/2024 - 10:19:00 (RTTNews)

(RTTNews) - A closely watched report released by the Commerce Department on Wednesday showed consumer prices in the U.S. increased in line with estimates in the month of October.

The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in October, matching the uptick seen in September as well as economist estimates.

The annual rate of growth by the PCE price index accelerated to 2.3 percent in October from 2.1 percent in September, which was also in line with expectations.

Excluding food and energy prices, the core PCE price index climbed by 0.3 percent in October, matching the increase seen in September as well as economist estimates.

The annual rate of growth by the core PCE price index crept up to 2.8 percent in October from 2.7 percent in September, which was also in line with expectations.

The inflation readings, which are preferred by the Federal Reserve, were included in a report on personal income and spending.

The report said personal income climbed by 0.6 percent in October, while personal spending rose by 0.4 percent. Economists had expected both personal income and spending to increase by 0.3 percent.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Japan Manufacturing PMI Sinks To 48.8 In January - Jibun (02 hr(s), 55 min(s), 45 sec(s) ago)
(RTTNews) - The manufacturing sector in Japan continued to contract in January, and at a faster pa ...Full Story»

Australia Manufacturing PMI Improves To 49.8 In January - S&P Global (04 hr(s), 41 min(s), 45 sec(s) ago)
(RTTNews) - The manufacturing sector in Australia continued to contract in January, albeit at a sl ...Full Story»

Japan Rate Decision On Tap For Friday (05 hr(s), 01 min(s), 45 sec(s) ago)
(RTTNews) - The Bank of Japan will wrap up its monetary policy meeting on Friday and then announce ...Full Story»

Treasury Announces Details Of Two-Year, Five-Year & Seven-Year Note Auctions (08 hr(s), 51 min(s), 45 sec(s) ago)
(RTTNews) - The Treasury Department on Thursday announced the details of this month's auctions ...Full Story»

U.S. Crude Oil Inventories Dip Less Than Expected (09 hr(s), 0 min(s),45 sec(s) ago)
(RTTNews) - Crude oil inventories in the U.S. decreased by less than expected in the week ended Ja ...Full Story»

Eurozone Consumer Confidence Improves In January (11 hr(s), 52 min(s), 45 sec(s) ago)
(RTTNews) - Euro area consumer confidence grew for the first time in three months in January, but ...Full Story»

U.S. Weekly Jobless Claims Extend Rebound (12 hr(s), 58 min(s), 45 sec(s) ago)
(RTTNews) - After reporting a rebound by first-time claims for U.S. unemployment benefits in the p ...Full Story»

U.S. Weekly Jobless Claims Inch Up More Than Expected (13 hr(s), 51 min(s), 45 sec(s) ago)
(RTTNews) - After reporting a rebound by first-time claims for U.S. unemployment benefits in the p ...Full Story»