Key for investors: consumer prices fall in the United States

Key for investors: consumer prices fall in the United States
October 27, 2023 – 10:41

Core inflation, which excludes volatile items such as food and energy, also saw a decline, standing at 3.7%

New York Stock Exchange

In September, the private consumption deflator PCE in the United States experienced a slight setback, decreasing to 3.4% in interannual termscompared to the 3.5% that had been registered in August.

However, it is important to mention that this last data was revised downwards by one tenth, as reported by the Bureau of Labor Statistics of the Department of Commerce American last Friday.

Core inflation which excludes volatile elements such as food and energy, also experienced a decrease, standing at 3.7%, one tenth below its level in the previous month. Both movements were aligned with the expectations of the economic consensus.

In the monthly analysis, the general index advanced 0.4%, maintaining the same growth rate that it had shown in August. On the other hand, the core rate accelerated its advance to 0.3%, compared to the 0.1% increase recorded the previous month. In September, food prices increased by 0.3%, while the energy index saw a significant increase of 1.7%.

The cost of goods rose by 0.2% during the ninth month of the year, while services increased by 0.5%. If we look at the year-on-year comparison, goods experienced an increase of 0.9%, while services showed a more significant growth of 4.7%.

Additionally, in September, personal income increased by 0.3%, equivalent to an additional $77.8 billion. Disposable personal income, after taxes and adjustments, also grew by 0.3%, totaling $56.1 billion.

For its part, personal consumption expenses increased by 0.7%, equivalent to an additional 138.7 billion dollars in the ninth month of the year. These economic data reflect the dynamics of the United States economy at a time of fluctuations in key indicators of inflation and personal spending.

Source: Ambito

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