Key inflation measure that the Fed follows rose 0.2% in October, less than expected
Source: CNBC
Inflation rose in October about in line with estimates, sending a sign that price increases at least might be stabilizing, the Commerce Department reported Thursday.
The core personal consumption expenditures price index, a gauge that excludes food and energy and is favored by the Federal Reserve, rose 0.2% for the month and was up 5% from a year ago. The monthly increase was below the 0.3% Dow Jones estimate, while the annual gain was in line.
The gains also represent a deceleration from September, which saw a monthly increase of 0.5% and an annual gain of 5.2%. Including food and energy, headline PCE was up 0.3% on the month and 6% on an annual basis. The monthly increase was the same as September, while the annual gain was a step down from the 6.3% pace.
The department also reported that personal income jumped 0.7% for the month, well ahead of the 0.4% estimate, and spending rose 0.8%, as expected. In another key report, a widely followed gauge of manufacturing activity posted its lowest reading in two and a half years for November.
Read more: https://www.cnbc.com/2022/12/01/key-inflation-measure-that-the-fed-follows-rose-0point2percent-in-october-less-than-expected-.html
Article updated.
Original article -
The monthly increase was below the 0.3% Dow Jones estimate, while the annual gain was in line. The gains also represent deceleration from September, which saw a monthly increase of 0.5% and an annual gain of 5.2%. Including food and energy, headline PCE was up 0.3% on the month and 6% on an annual basis.
The monthly increase was the same as September, while the annual gain was a step down from the 6.3% pace. The department also reported that personal income jumped 0.7% for the month, well ahead of the 0.4% estimate, and spending rose 0.8%, as expected.
While the Fed takes in a broad range of measures to gauge inflation, it prefers the PCE index as it takes into account changes in consumer behavior such as substituting less expensive goods for pricier items. That's different than the consumer price index, which is a raw measure of changes in prices. Policymakers view core inflation as a more reliable measure as food and energy prices tend to fluctuate more than other items.
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Fox News will soon have to make up something new to be outraged about. Maybe another caravan invasion or Hunter's laptop. Litter boxes in school bathrooms.
Bus #5 showed up yesterday. Still no heads up from the idiot-in-chief in TX.
5th bus of migrants arrives in Philadelphia
philadelphia
By CBS3 Staff
November 30, 2022 / 11:50 AM / CBS Philadelphia
PHILADELPHIA (CBS) -- A fifth bus of migrants arrived in Philadelphia from Texas on Wednesday.
City officials confirmed a bus arrived around 10 a.m. It's unclear how many people were aboard the bus at this time, but some of them were taken to a welcoming facility and offered services including health screenings, food and water and legal services.
Two buses arrived on Friday at 30th Street Station. Within hours, over half the people aboard the buses were on their way to their next destinations, immigrant advocacy groups said.
https://www.cbsnews.com/philadelphia/news/5th-bus-of-migrants-arrives-in-philadelphia/
However CBP had already fully screened and processed all the migrants before Abbot dumped them and sent them here.
Faux should pay attention to the Dominion Systems lawsuits against them and their circus performers. Update on where all the cases are is here.
