The confidence of the Fed that inflation would move back to its two percent target even with lower rates looks misplaced. | Economy
The Federal Reserve’s preferred inflation measure moved up in October, with core prices climbing 2.8 percent over the past year, underscoring the lingering challenge of stubborn inflation despite months of cooling trends.
The personal consumption expenditures price index, which tracks changes in the cost of goods and services, rose 0.2 percent for the month. Stripping out volatile food and energy costs, the core index increased by 0.3 percent in October. Over the past 12 months, the overall index is up 2.
