The Sunday Review Business

Key measure Slowing of consumer prices in OctoberAnother sign of hope is the. inflation The pressures may be lessening.

The The Personal Consumption Expenditures price Index, or PCE, increased 6% in October According to the Commerce Department, Thursday’s report was down compared with a year before. That’s down from the upwardly revised 6.3% annual increase reported for September.

PCE is the Federal Reserve’s preferred inflation Since gauge gives you a complete picture of the consumer prices,

Prices increased by 0.3% in October The same monthly increase was seen in September as well. in Each of the two previous months.

The core PCE rose by 5% in the 12 months to December, while it was 0.2% higher month-on-month. That compares to September’s upwardly revised 5.2% annual increase and a month-on-month jump of 0.5%.

The 12-month gain in Core PCE was in line with the forecasts by Refinitiv economists, although the one-month increase was slightly less than the 0.3% forecast.

Inflation pressures are a major concern in the US economy. The Fed has raised interest rates at an unprecedented level to address this problem. in An effort to control prices

Fed Chairman Jerome Powell stated in In a Wednesday speech, Powell suggested that the Fed might slow down on its aggressive rate-hiking pace as early as December. While Powell has stressed the importance of not relying on one particular data point, Thursday’s inflation Reading likely confirms this plan.

This story is still in development and will be updated.