Federal Reserve Mouthpiece: The PCE Index favored by the Federal Reserve is not far from the Fed's target

ChainCatcher news, according to Jinshi reports, "the Federal Reserve's mouthpiece" Nick Timiraos stated that the Federal Reserve's favored inflation indicator, the Personal Consumption Expenditures Index (PCE), showed an increase of 2.2% over the 12 months ending in August, not far from the Federal Reserve's 2% target.

A year ago and two years ago, this indicator was 3.4% and 6.6%, respectively. The core PCE (excluding the more volatile food and energy items) rose by 2.7% year-on-year in August. A year ago, the 12-month core inflation rate was 3.8%, and two years ago it was 5.4%.