On October 1st, the monthly rate of the core PCE price index in the United States in August was 0.3%, compared with the previous value of 0.3%, and is expected to be 0.2%.
The core PCE price index rose 1.6 per cent in August from a year earlier, with an expected increase of 1.4 per cent and a 1.3 per cent increase in the previous value, while personal spending in the US rose 1 per cent month-on-month in August, an expected increase of 0.8 per cent and a 1.9 per cent increase in the previous value.
After the release of the data, the yield on the 10-year Treasury note fell to 1.496% at press time. Spot gold and silver fluctuates little in the short term.
The Bureau of Economic Analysis of the U.S. Department of Commerce said the increase in the PCE price index in August reflected an increase in the price of goods and services. Energy prices rose 24.9% and food prices rose 2.8%. The PCE price index, excluding food and energy, rose 3.6 per cent in August from a year earlier.
The department believes that personal consumption expenditure at current prices increased by 130.5 billion yuan in August, reflecting an increase of 66 billion yuan in goods and 64.6 billion yuan in services. In terms of goods, spending on food, beverages and "other" non-durable goods increased, while spending on cars and spare parts decreased. In the service sector, growth is widespread, mainly in personal care, clothing services, housing and utilities, and health care.
Forexlive, a financial website, believes that these figures are largely in line with expectations, but revenues are unexpectedly weak. The good news for the Fed is that inflation has not unexpectedly risen sharply.