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International Business Times
International Business Times
Business
Daniel AVIS

US Fed's Favored Inflation Gauge Ticks Up In October

US Federal Reserve Inflation Donald Trump United States Commerce Department Kathy Bostjancic Economy Nationwide
Health care was responsible for the largest increase in the services index last month (Credit: AFP)

US inflation -- set to be a key issue for incoming president Donald Trump -- accelerated slightly last month, according to data published Wednesday, underscoring price pressures in the world's largest economy.

The personal consumption expenditures (PCE) price index rose 2.3 percent in the 12 months to October, up from 2.1 percent in September, the Commerce Department announced in a statement.

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