US inflation rises to 3.6% in September as December rate-hike expectations strengthen
Economy · First reported 29 Oct, 04:25 · Updated 17:49
US PCE inflation rose to 3.6% over the year through September, while consumer spending increased but inflation-adjusted spending was unchanged for the month. The report said markets were pricing in an 84.6% chance of a December Federal Reserve rate increase.
- The PCE price index rose 0.5% in September, and its 12-month increase accelerated to 3.6% from 3.4% in August.
- Consumer spending rose 0.5% in September, but inflation-adjusted spending was unchanged; quarterly spending grew at an annualised rate of 3.8%.
- The Fed held its benchmark rate at 3.75%–4.00%, while financial markets priced in an 84.6% chance of a December increase.
Summary written by Lux AI from 2 articles
Key facts
- PCE inflation
- 3.6% year over year in September, up from 3.4% in August.
- Core PCE inflation
- 3.1% year over year in September, compared with 3.0% in August.
- Fed benchmark rate
- Held at 3.75%–4.00%.
- Market-implied chance of December rate increase
- 84.6%.
- Consumer spending
- Rose 0.5% in September; inflation-adjusted spending was unchanged.
Source spectrum
Far left
Left
Lean left
Centre
Lean right
Right
Far right
Left 0 · Centre 2 · Right 0 of 2 rated sources
All coverage
Coverage over time
LeftCentreRight
Articles per hour since first reported, by side.
Ownership
- Corporation 100% (2)
Share of the 2 sources by owner type.