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Inflation Below 2% Fed Target for 30th Consecutive Month
U.S. inflation remained below the Federal Reserve’s annual 2% target for the 30th consecutive month in October. The price index for personal consumption expenditures, the Fed’s preferred inflation measure, rose 0.1% from September and is up 1.4% from a year earlier, the Commerce Department said Wednesday. Excluding food and energy components, so-called “core” prices gained 0.2% over the month and are up 1.6% over the year. Overall annual inflation was unchanged from September, while core inflation is firming, though only slowly. It was 1.5% year over year in September. The Fed has set a 2% target for ... (full story)