Inflation gauge closely watched by the Fed falls to lowest level since

The US personal consumption expenditures price index, favored by the Federal Reserve, indicates inflation nearly back to pre-pandemic levels with only a 2.1% rise in September.

Despite a drop in overall inflation to 2.1%, core prices, excluding food and energy, remained stubbornly high at a 2.7% increase, raising concerns for the Federal Reserve.

As the presidential race intensifies, economic frustration looms large with many voters feeling prices are nearly 20% higher than four years ago, despite recent slowdowns.

Economists anticipate a quarter-point rate cut by the Federal Reserve amidst a cooling inflation trend, although core inflation has seen minimal recent decrease.

Read at euronews