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October 2023 PCE Inflation Report Republican Staff Commentary KEY TAKEAWAYS At 8 30am BLS announced that in Oct Headline CPI inflation was zero m m after rising 0 4 last month o The food and shelter indexes...were offset by declines in other categories o Notably the gasoline index fell by 5 0 m m Core CPI inflation was 0 2 m m after rising 0 3 last month o This measure excludes the volatile food and energy categories...categories o Notable increases occurred in rents car insurance medical care and recreation Headline inflation is 3 2 y y still well above the Fed s 2 target Separately BLS announced that in Oct Real average...

KEY TAKEAWAYS At 8 30am the BLS announced that in September Headline CPI inflation was 0 4 m m a decrease from 0 6 last month o Housing prices accounted for more than half of the increase rising 0 6 m...to the increase rising 2 1 m m Core CPI inflation was 0 3 m m unchanged from last month o Core CPI excludes volatile food and energy prices It indicates inflation s near term trend o Housing prices were...1 raise you ve effectively gotten a pay cut Real inflation adjusted STATE LEVEL INFLATION According to JEC s updated estimates for state level inflation families in 14 states are facing an additional 1000...

Headline CPI U inflation was 0 31 percent m m The food price index increased 0 39 percent m m The energy price index increased 0 20 percent m m Core CPI U inflation was 0 31 percent m m Core inflation excludes...Year over year inflation Headline CPI U inflation was 2 75 percent y y o The food price index increased 2 38 percent y y o The energy price index decreased 3 18 percent y y Core CPI inflation was 3 32 percent...Cumulative headline CPI U inflation was 20 6 percent o The food price index has increased 22 9 percent o The energy price index has increased 30 7 percent Cumulative core CPI U inflation was 19 3 percent Real...

Vice Chairman Schweikert on November Inflation and Real Earnings Reports WASHINGTON D C Today Joint Economic Committee Vice Chairman David Schweikert issued the following statement after the U S Bureau...20 6 percent since January 2021 The reacceleration in year over year inflation and stagnantly high core inflation in today s inflation report are incredibly important figures it s a reminder American families...families are still having to cut costs elsewhere in order to account for inflation said Vice Chairman Schweikert Cumulative inflation is up 20 6 percent under the Biden Harris administration amounting to...

Headline CPI U inflation was 0 18 percent m m The food price index increased 0 4 percent m m The energy price index decreased 1 9 percent m m Core CPI U inflation was 0 31 percent m m Core inflation excludes...Year over year inflation Headline CPI U inflation was 2 4 percent y y The food price index increased 2 3 percent y y The energy price index decreased 6 8 percent y y Core CPI inflation was 3 3 percent...Cumulative headline CPI U inflation was 20 5 percent The food price index has increased 22 6 percent The energy price index has increased 34 3 percent Cumulative core CPI U inflation was 19 0 percent Real...

by 0 04 percent m m That means after tax income rose faster than prices Headline PCE price index inflation was 0 18 percent m m All goods PCE price index fell by 0 12 percent m m Durable goods PCE price...Nondurable goods PCE price index fell by 0 36 percent m m Core PCE price index inflation was 0 25 percent m m Core PCE price index inflation excludes the more volatile food and energy indices Real personal consumption...Headline PCE price index inflation was 2 09 percent The Federal Reserve s 2 percent target refers to the annual change in the headline PCE price index PCEPI Core PCE price index inflation was 2 65 percent Table...

21 2B Headline PCE price index inflation rose by 0 09 percent m m All goods PCE price index inflation fell by 0 15 percent m m o Durable goods PCE price index inflation fell by 0 24 percent m m o Nondurable...Nondurable goods PCE price index inflation fell by 0 11 percent m m Core PCE inflation rose by 0 13 percent m m Core PCE price index inflation excludes the more volatile food and energy indices Nominal personal...Headline PCE price index inflation was 2 24 percent o The Federal Reserve s 2 percent target refers to the annual change in the headline PCE price index PCEPI Core PCE price index inflation was 2 68 percent August...

Headline CPI U inflation was 0 19 percent m m The food price index increased 0 12 percent m m The energy price index decreased 0 80 percent m m Core CPI U inflation was 0 28 percent m m Core inflation excludes...Year over year inflation Headline CPI U inflation was 2 5 percent y y o The food price index increased 2 1 percent y y o The energy price index decreased 4 0 percent y y Core CPI U inflation was 3 2 percent...Cumulative headline CPI U inflation was 20 3 percent o The food price index has increased 22 1 percent o The energy price index has increased 37 7 percent Cumulative core CPI U inflation was 18 6 percent Real...

rate adjusted for inflation 6 Economic growth slowed in 2000 Annual GDP growth dropped from 3 7 percent in the first half of 2000 to 0 9 percent in the second half adjusted for inflation 7 3 Consumers have...Consumers disposable income has increased 5 percent since the recession in real terms i e excluding inflation and real growth in consumer spending has hovered around a 3 percent annual rate 8 New and existing...third quarter and 3 8 percent in the fourth quarter of this year annualized rates adjusted for inflation 17 Forecasters base their expectations for a pickup in growth on several factors including the recently...

demands upon our resources of the Korean war and a long run security program We have overcome postwar inflation and two recessions At the same time there has been an increase of about one sixth in per capita...rate consistent with rising productivity and growth in the labor force avoiding the excesses of inflation and rising prices on the one hand or renewed recession and rising unemployment on the other The...agricultural prices remained somewhat firmer during 1955 we would have experienced a considerable inflation during the year The importance of this sharp rise in industrial prices is evidently not appreciated...