US Core Inflation Accelerates as Price Pressures Percolate

President Joe Biden speaks to the press as he walks to Marine One prior to departure from the South Lawn of the White House in Washington, on Oct. 27, 2022. Saul Loeb/AFP via Getty Images

A key measure of inflation in the United States that is closely monitored by the Federal Reserve accelerated once again in September, as the price of goods and services rose upward,

The Personal Consumption Expenditures (PCE) Index showed that core prices, excluding the volatile food and energy prices, rose 0.5 percent from the previous month, up 5.1 percent on an annual basis, according to new data from the Bureau of Economic Analysis (BEA) on Oct. 28.