Latest / Investopedia Markets News (all except PF)
Inflation Hits Highest Since May as Energy Prices Surge
Gas prices are still a major contributor to higher inflation.
Credit: Charles-McClintock Wilson / NurPhoto via Getty Images
KEY TAKEAWAYS
PCE inflation rose to 3.6% in September, its highest annual rate since May.
Energy prices jumped 9.2% as the Iran war drove fuel costs higher.
Core PCE inflation accelerated to 3.1%, remaining above the Fed’s 2% target.
The Federal Reserve’s preferred measure of inflation showed no signs of slowing down, although it rose less than expected.
The Personal Consumption Expenditures Price Index rose 3.6% over 12 months ending in September, the Bureau of Economic…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.