An inflation gauge closely watched by Federal Reserve policymakers continued to slow in September as the pace of price growth trended closer to the Fed's target in September.

The Commerce Department reported Thursday that the personal consumption expenditures (PCE) index rose 0.2% in September and increased 2.1% year over year. Those figures were in line with estimates by economists polled by LSEG.

Core PCE, which excludes volatile food and energy prices, rose 0.3% for the month and increased 2.7% from a year ago, in line with estimates.

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The Commerce Department released the latest data for the personal consumption expenditures index, which is closely watched by Federal Reserve policymakers and showed inflation cooled.{ai:summary}The personal consumption expenditures (PCE) index showed a slower inflation rate in September, rising 0.2% monthly and 2.1% annually, aligning with economist predictions. Core PCE, excluding food and energy, increased by 0.3% for the month and 2.7% year over year.These trends indicate price growth is moving closer to the Federal Reserve's target. #economy

Fed's favored inflation gauge showed price growth continued to slow in September

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