US September PCE Inflation Rises, Cleveland Fed Forecasts Further Increases

The US Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve's preferred inflation gauge, rose to 3.6% in September from 3.4% in August, with core PCE also increasing to 3.1%. The Cleveland Fed's inflation tool projects further increases to 3.77% in October and 3.82% in November, reinforcing expectations for a potential December rate hike.