WSJ’s Dion Rabouin unpacks the latest GDP report and explains what it says about the state of the economy. Photo: Li Jianguo/Zuma Press
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https://www.wsj.com/economy/central-banking/inflation-trends-likely-to-keep-fed-rate-hike-pause-on-track-7e0b4425Forecasters estimate prices picked up last month, but not enough to prompt the central bank to raise interest rates next week The Federal Reserve’s favorite inflation measure is estimated to show that price pressures picked up modestly last month amidat its Oct. 31-Nov. 1 policy meeting. They are closely watching underlying price trends to gauge whether they have raised short-term interest rates enough to slow the economy and tame inflation.
Economists surveyed by The Wall Street Journal estimate the Commerce Department’s core personal-consumption expenditures price index, which excludes volatile food and energy prices, increased a modest 0.3% in September from the prior month, after a 0.1% rise in August. From a year earlier, they estimate prices rose 3.7% last month, compared with 3.9% in August and 5.6% in February 2022, which was a recent peak.
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