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Personal Income and Outlays, September 2023
Personal income increased $77.8 billion (0.3 percent at a monthly rate) in September, according to estimates released today by the Bureau of Economic Analysis (table 2 and table 3). Disposable personal income (DPI), personal income less personal current taxes, increased $56.1 billion (0.3 percent) and personal consumption expenditures (PCE) increased $138.7 billion (0.7 percent). The PCE price index increased 0.4 percent. Excluding food and energy, the PCE price index increased 0.3 percent (table 5). Real DPI decreased 0.1 percent in September and real PCE increased 0.4 percent; goods increased 0.5 percent and ... (full story)
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Inflation rises faster than expected, Fed’s preferred PCE price tracker shows
The cost of goods and services rose a higher-than-expected 0.4% in September, keeping the pressure on the Federal Reserve as it weighs whether to raise interest rates again. The increase in the so-called PCE price index over the past year was unchanged at 3.4%, the government said Friday. The price gauge is the Federal Reserve’s preferred measure of inflation. The core PCE rate of inflation increases a touch slower, 0.3%, last month. Economists polled by The Wall Street Journal had forecast a 0.3% increase The core rate omits volatile food and energy costs and is viewed by the Fed as a better predictor of future ... (full story)
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