Federal Reserve’s Preferred Inflation Gauge Unchanged in September at 3.4 Percent

Jerome Powell hinted that the central bank could be finished with rate hikes but left the door open to further increases if the economic data warranted.

People shop at a grocery store in Columbia, Md., on May 17, 2023. Madalina Vasiliu/The Epoch Times

The personal consumption expenditure (PCE) price index—the Federal Reserve’s preferred inflation gauge—was unchanged at an annual rate of 3.4 percent in September, according to the Bureau of Economic Analysis (BEA).

Economists had widely anticipated that the PCE would be unchanged.