US PCE inflation for September 2024 at 2.1%; just shy of target
PCE inflation for goods in September 2024 was lower at -1.2% compared to -0.9% in August 2024. Within goods, the durable goods showed further improvement from -2.2% to -1.9% while the inflation in non-durable goods dipped sharply by 60 bps from -0.2% to -0.8%. It is down 180 bps in the last 2 months.
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