US: Core PCE Inflation Accelerates in September.

The US core Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s preferred measure of underlying inflation, rose 3.1% year over year in September 2026, up from 3.0% in August and in line with market expectations. On a monthly basis, core PCE prices increased 0.3%, matching both the previous month’s rise and forecasts. The annual inflation rate reached its highest level since May and remained well above the Fed’s 2% target, reinforcing concerns that rising energy costs could be fueling broader inflationary pressures.