US: Annual Core PCE Price Index edges higher to 1.5% in September vs. 1.7% expected

• Annual core PCE Price Index in US came in lower than expected in September.
• US Dollar Index edges lower toward 93.70 ahead of Wall Street’s opening bell.

The Personal Consumption Expenditures (PCE) Price Index in September rose 0.2% on a monthly basis, the US Bureau of Economic Analysis reported on Friday. On a yearly basis, the PCE Price Index increased to 1.4% from 1.3% in August (revised from 1.4%).

Additionally, the annual Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, ticked up to 1.5% in September from 1.4% but missed analysts’ estimate of 1.7%. On a monthly basis, the Core PCE Price Index arrived at 0.2%.

Market reaction

The US Dollar Index is edging modestly lower following Friday’s data releases and was last seen losing 0.2% on the day at 93.73.