{"id":519870,"date":"2022-12-01T19:32:46","date_gmt":"2022-12-01T16:32:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/fed-inflation-gauge-shows-october-prices-eased-to-6\/"},"modified":"2022-12-01T19:32:46","modified_gmt":"2022-12-01T16:32:46","slug":"fed-inflation-gauge-shows-october-prices-eased-to-6","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/fed-inflation-gauge-shows-october-prices-eased-to-6\/","title":{"rendered":"#Fed inflation gauge shows October prices eased to 6%"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26b4fc86ae2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26b4fc86ae2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/fed-inflation-gauge-shows-october-prices-eased-to-6\/#%E2%80%9CFed_inflation_gauge_shows_October_prices_eased_to_6%E2%80%9D\" >&#8220;Fed inflation gauge shows October prices eased to 6%&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CFed_inflation_gauge_shows_October_prices_eased_to_6%E2%80%9D\"><\/span>&#8220;Fed inflation gauge shows October prices eased to 6%&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed\u2019s intent to keep raising interest rates to cool the economy and slow the acceleration of prices.<\/p>\n<p>Thursday\u2019s\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bea.gov\/news\/2022\/personal-income-and-outlays-october-2022\">report from the Commerce Department<\/a>\u00a0showed that prices rose 6% in October from a year earlier. That was the smallest increase since November 2021 and was down from a revised 6.3% year-over-year rise in September. Excluding volatile food and energy prices, so-called core inflation over the previous 12 months was 5%, less than the 5.2% in September.<\/p>\n<p>On a month-to-month basis, prices rose 0.3% from September to October. For core prices, the increase was 0.2%.<\/p>\n<p>The report also showed that consumers spent more in October, even after adjusting for inflation, a sign of their continued willingness to keep spending in the face of high prices. Spending increased 0.8% from September to October, or 0.5% after accounting for price increases. At the same time, after-tax income, adjusted for inflation, rose 0.4%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/fed-consumer-spending.jpg?w=1024\" alt=\"Shoppers at a Walmart last month.\" class=\"wp-image-24854934\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/fed-consumer-spending.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/fed-consumer-spending.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/fed-consumer-spending.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Consumer spending increased 0.8% from September to October, or 0.5% after accounting for price increases. <\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>Many Americans, though, are dipping into their savings to keep up with rising prices. The savings rate in October fell to 2.3%, the lowest level since 2005.<\/p>\n<p>Responding to the worst inflation bout since the early 1980s, the Fed has raised its benchmark rate six times since March, and\u00a0its past four hikes have each been by a hefty three-quarters of a point. The central bank is hoping to engineer the difficult task of bringing inflation down to its 2% annual target without causing a recession in the process.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>In recent months, inflation has eased from the four-decade highs it reached earlier in the year. And most economists expect the Fed\u2019s aggressive tightening to further slow prices.<\/p>\n<p>\u201cWe expect to see a lot more good <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> on inflation over the coming months,\u2033 Paul Ashworth, chief North America economist at Capital Economics, wrote in a research note.<\/p>\n<p>On Wednesday,\u00a0Fed Chair Jerome Powell said in a speech\u00a0that the central bank could slow its rate hikes to a half-point increase when it next meets in two weeks \u2014 a message that sent cheers through the financial markets. Yet at the same time, Powell made clear that the policymakers intend to keep their key rate, which affects many consumer and business loans, at a high level for a prolonged period.<\/p>\n<p>The Fed\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of aggressive rate increases have made borrowing costs sharply more expensive across the economy. The housing market, in particular, has been hammered by\u00a0a doubling of mortgage rates\u00a0from a year ago:\u00a0Sales of previously occupied homes have dropped for nine straight months. Many economists expect the United States to fall into a recession next year as the effects of those costlier loan rates take root.<\/p>\n<p>Yet in the meantime, the overall economy is showing signs of surprising durability. On Wednesday,\u00a0the government estimated that the economy grew at a solid 2.9% annual rate\u00a0from July through September. The job market, the most important barometer of economic health, remains robust. Employers have added a healthy average of 407,000 jobs a month so far this year, and unemployment remains near a half-century low.<\/p>\n<p>The Fed is believed to monitor the inflation gauge that was issued Thursday, called the personal consumption expenditures price index, even more closely than it does the government\u2019s better-known consumer price index. The government has reported that\u00a0the CPI rose 7.7% October from 12 months earlier, down from June\u2019s 9.1% year-over-year increase, which had been the biggest such jump in four decades.<\/p>\n<p>The PCE index tends to show a lower inflation level than CPI. In part, that is because rents, which have soared, carry double the weight in the CPI that they do in the PCE.<\/p>\n<p>The PCE price index also seeks to account for changes in how people shop when inflation jumps. As a result, it can capture, for example, when consumers switch from pricey national brands to cheaper store brands.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/12\/01\/fed-inflation-gauge-shows-october-prices-eased-to-6\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Fed inflation gauge shows October prices eased to 6%&#8221; A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed\u2019s intent to keep raising interest rates to cool the economy and slow the acceleration of prices. Thursday\u2019s\u00a0report from the Commerce Department\u00a0showed&#8230;<\/p>\n","protected":false},"author":1,"featured_media":519871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/fed-consumer-spending.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[136509,74694,5069,70550,70551],"class_list":["post-519870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-1-22","tag-consumer-spending","tag-economy","tag-federal-reserve","tag-inflation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/519870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=519870"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/519870\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/519871"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=519870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=519870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=519870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}