PCE Report: Fed's Preferred Inflation Gauge Hit 2.8% In September

On an annual basis, core PCE stood at 2.8% in September, in line with expectations.

The Personal Consumption Expenditures (PCE) Index, which is the Federal Reserve’s preferred gauge of inflation, rose to 2.8% in September on an annual basis.

According to data from the Commerce Department, core PCE, which excludes food and energy, was at 2.8% on an annual basis. It rose 0.2% over the previous month.

While PCE came in lower than expectations, core PCE was in line with analyst forecasts, according to a Dow Jones estimate compiled by MarketWatch.

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