Posted by on November 24, 2021 6:02 pm
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Categories: Breaking News Epoch Times News

Key Inflation Gauge Shows Prices Accelerating at Fastest Pace Since 1990

Inflation picked up its already red hot pace in October, with the Commerce Department reporting today that the headline Personal Consumption Expenditures (PCE) index surged 5.0 percent over the year, vaulting to a level not seen since 1990 and reinforcing broader concerns about the persistence of inflationary pressures. Meanwhile, the core PCE inflation index, which excludes the volatile categories of food and energy and is the Federal Reserve’s preferred inflation gauge for calibrating monetary policy, rose in the year through October at 4.1 percent, the fastest pace since 1991. On a month-over-month basis, headline PCE accelerated at 0.6 percent, faster than the 0.4 percent rate in each of the prior three months. Core PCE also shot up, with October’s month-over-month rate of 0.4 percent coming in at double the rate in September, with both gauges showing inflation picking up its pace and suggesting higher price pressures are more entrenched than Biden …

Originally appeared on The Epoch Times

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