Inflation Doesn’t Want to Cooperate: PCE Price Indices for Core, Core Services, and Durable Goods Worsen Further MoM

The YoY “core” PCE price index, the Fed’s yardstick for its 2% target, rose 2.65%, with no progress over the past 5 months. But energy prices plunged. The “core” PCE price index, the Fed’s primary yardstick for its 2% inflation target, rose by 3.1% annualized in September from August...