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Analysis: US October PCE is expected to rebound, but the anti-inflation trend remains unchanged

Analysis: US October PCE is expected to rebound, but the anti-inflation trend remains unchanged

Bitget2024/11/27 08:24

Inflation pressure has significantly decreased since reaching its peak two years ago, but the pace of improvement has slowed in recent months. The PCE index is the Federal Reserve's preferred indicator for measuring price pressures. The Fed's goal is to keep the PCE inflation rate at around 2% over the long term to maintain a healthy economic state.

According to economists' forecasts, the PCE price index will rise by 0.20% month-on-month and 2.30% year-on-year in October. Excluding volatile food and energy prices, core PCE inflation is expected to rise by 0.30% month-on-month and 2.80% year-on-year. Although economists expect both indicators to increase compared with September, analysts believe that price pressures are still improving. Russell Price, chief economist at Ameriprise Financial, pointed out that higher readings in October "will not disrupt the long-term trend."

It's worth noting that due to daylight saving time and Thanksgiving holiday effects, this round of PCE data will be released on Wednesday at 21:30 Singapore time instead of usual Thursday at 20:00.

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