According to BlockBeats, on September 27, "Federal Reserve mouthpiece" Nick Timiraos said that the Federal Reserve's preferred inflation indicator, the personal consumption expenditure index (PCE), showed that the indicator rose by 2.2% in the 12 months ending in August, not far from the Federal Reserve's 2% target.

A year ago and two years ago, the measure was 3.4% and 6.6%, respectively. Core PCE, which excludes volatile food and energy items, rose 2.7% year-on-year in August. The 12-month core inflation rate was 3.8% a year ago and 5.4% two years ago.