U.S. September core PCE came in below expectations, providing grounds for the Federal Reserve to cut interest rates

According to Jin Ten, the U.S. Department of Commerce announced that the core PCE price index for September rose by 0.2% month-on-month and 2.8% year-on-year, with the month-on-month figure meeting expectations, but the year-on-year figure falling short of expectations by 0.1 percentage points. This report, delayed due to the government shutdown, further signals a green light for the Federal Reserve to cut interest rates. Overall personal consumption expenditures increased by 0.3% month-on-month, with the annual inflation rate also at 2.8%, both in line with expectations.