Headline PCE climbed 6% on an annual basis in October, compared to the revised 6.3% climb in September. Economists were expecting PCE to rise 6%.
A key gauge of U.S. inflation rose a modest 0.3% in October, adding another piece of evidence that points to slowly easing price pressures.
Core PCE, which strips out the impacts of food and energy, climbed 5% at an annual pace in October, according to the Commerce Department, which was in line with economists expectations of a 5% increase, according to FactSet. Core PCE climbed 5.2% in September.
The core index rose 0.2% last month. Wall Street had forecast a 0.3% increase in the so-called core PCE index.
Source: MarketWatch