economy United States
US inflation data lowers expectations of an October Fed rate hike
3.4%
The Personal Consumption Expenditures price index rose 3.4% year-on-year in August.
A softer-than-expected August inflation reading boosted US stocks and reduced traders’ estimated probability of an October Federal Reserve rate hike from about 45% to 35%.
1 sourceThe GuardianUpdated
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- 3.4%
The Personal Consumption Expenditures price index rose 3.4% year-on-year in August.
“the personal consumption expenditures (PCE) price index stood at 3.4% on an annual basis in August”
- 3.7%
Economists surveyed by Reuters expected the PCE price index to rise 3.7%.
“against estimates of 3.7%, per economists polled by Reuters”
- 35%
Traders estimated a 35% chance of an October Federal Reserve rate hike.
“Traders now see a roughly 35% chance of an October rate hike”