Key inflation rate hits 2.1% in September

Inflation edged up in September, nearing the Federal Reserve’s 2% target, with the personal consumption expenditures (PCE) index showing a 0.2% monthly increase and a 2.1% annual rate.

Core inflation, excluding food and energy, rose 2.7% year-over-year. Service prices increased by 0.3%, while goods saw a 0.1% drop.

Despite inflation concerns, income rose 0.3%, consumer spending increased 0.5%, and the personal savings rate dropped to 4.6%, the lowest this year.

Unemployment claims also decreased, signaling job stability, CNBC has reported.

read more: https://www.cnbc.com/2024/10/31/pce-inflation-september-2024-.html

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