Federal Reserve’s Preferred Inflation Metric Decelerates to 2.2 Percent
Core PCE, which excludes food and energy, ticked up to 2.7 percent. The Federal Reserve’s preferred inflation gauge—the personal consumption expenditure (PCE) price index—came in below expectations, suggesting that the central bank is inching closer to its 2 percent target. The PCE decelerated to 2.2 percent year over year, down from 2.5 percent in the