Hopes that the Federal Reserve will cut interest rates when it meets next week were bolstered Friday when the U.S. Bureau of Economic Analysis (BEA) released a key inflation measure that came in better than analysts had expected.
The BEA report for September, which had been delayed by the federal government shutdown, shows that the personal consumption expenditure (PCE) price index increased 0.3% from August. From the same month one year ago, the PCE price index for September increased 2.8%.
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