• Inflation fell three-tenths of a percentage point to 6% annually in October, as measured by the gauge favored by the Federal Reserve.
• The decline in the personal consumption expenditures price index reported Thursday morning by the Bureau of Economic Analysis is a sign that inflationary pressures are abating in the face of the Fed’s campaign to slow price gains by raising inflation rates. Nevertheless, inflation is still running much faster than the central bank’s target and hurting household purchasing power.

Tagged: #Bidenflation