Inflation Back on Track in September

AIER

Lean Right

Factuality

Ownership

Inflation Back on Track in September

After dipping well below the Federal Reserve’s 2-percent target in August, inflation now appears to be back on track. The Bureau of Economic Analysis (BEA) reports that the Personal Consumption Expenditures Price Index (PCEPI), which is the Fed’s preferred measure of inflation, grew at a continuously compounding annual rate of 2.1 percent in September 2024, up from 1.4 percent in the prior month. PCEPI inflation has averaged 1.8 percent over the…