Inflation Eases but Remains 300 Percent Above Fed’s Target, New Data Shows

Federal Reserve Chair Jerome Powell speaks during a news conference in Washington on Nov. 2, 2022. Elizabeth Frantz/Reuters

New data shows that U.S. inflation rates have eased but still remain 300 percent above the Federal Reserve’s target.

The personal consumption expenditures index (PCE) for October, a measure of inflation that is closely monitored by the Fed, was released on Dec. 1 by the Bureau of Economic Analysis.