According to Odaily: The U.S. core Personal Consumption Expenditures (PCE) price index, a key inflation indicator monitored by the Federal Reserve, held steady at 2.7% year-over-year in September 2024, according to recent data. This rate remains consistent with the annual figure reported in August, reflecting continued inflation pressures in the U.S. economy.
On a month-to-month basis, the core PCE rose by 0.3% in September, a slight increase from the 0.2% rise recorded in August. This uptick indicates a modest rebound in monthly inflation, adding to speculation around the Fed’s upcoming decisions on monetary policy adjustments.
The release of the September PCE data had an immediate impact on the U.S. Dollar Index (DXY), which climbed by 16 points to reach 104.00 shortly after the announcement. Investors and economists closely follow the core PCE as it excludes volatile food and energy prices, providing a more stable measure of inflation trends.