Analysts: US PCE inflation may accelerate in October, expected to influence Fed to cut rates
The Federal Reserve may not see any more signs of easing inflation before it decides whether to cut interest rates again in December, according to reports. After studying this week's CPI and PPI inflation data, many analysts are predicting that the Fed's preferred inflation gauge, the PCE price index, will show a 2.8 per cent year-on-year rise in core prices in October, excluding the volatile food and energy categories. This would be another acceleration since September and would mean that core PCE annualisation has returned to May levels.
However, the pain may be temporary. Citi economists expect that monthly core PCE inflation could slow sharply in November. However, November's data will not be released until New Year's Eve.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum gas fee is currently reported at 0.072 Gwei
Data: If ETH falls below $3,341, the cumulative long liquidation intensity on major CEXs will reach $1.155 billions
Spain Arrests Leader of €260 Million Cryptocurrency Ponzi Scheme