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US Personal Income and Outlays, September 2024
Personal income increased $71.6 billion (0.3 percent at a monthly rate) in September, according to estimates released today by the U.S. Bureau of Economic Analysis (tables 2 and 3). Disposable personal income (DPI), personal income less personal current taxes, increased $57.4 billion (0.3 percent) and personal consumption expenditures (PCE) increased $105.8 billion (0.5 percent). The PCE price index increased 0.2 percent. Excluding food and energy, the PCE price index increased 0.3 percent (table 5). Real DPI increased 0.1 percent in September and real PCE increased 0.4 percent; goods increased 0.7 percent and ... (full story)
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Fed's favored inflation gauge showed price growth continued to slow in September
An inflation gauge closely watched by Federal Reserve policymakers continued to slow in September as the pace of price growth trended closer to the Fed's target in September. The Commerce Department reported Thursday that the personal consumption expenditures (PCE) index rose 0.2% in September and increased 2.1% year over year. Those figures were in line with estimates by economists polled by LSEG. Core PCE, which excludes volatile food and energy prices, rose 0.3% for the month and increased 2.7% from a year ago, in line with estimates. The Federal Reserve is focusing on the PCE headline figure as it tries to bring ... (full story)
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