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The Fed's favorite inflation measure cooled in October
A key measure of consumer prices slowed somewhat in October, another hopeful sign that inflation pressures could be moderating.
Posted — UpdatedBy Chris Isidore, CNN Business
CNN — A key measure of consumer prices slowed somewhat in October, another hopeful sign that inflation pressures could be moderating.
The Personal Consumption Expenditures price index, or PCE, rose 6% in October compared to a year earlier, the Commerce Department reported Thursday. That's down from the upwardly revised 6.3% annual increase reported for September.
PCE is the Federal Reserve's preferred inflation gauge since it gives a more complete picture of consumer prices.
This story is developing and will be updated.
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