“The price index for personal consumption expenditures, the Fed’s preferred inflation gauge, was up only 0.2% from a year earlier in September”
Up .2%? What if you took out health care inflation at something like 11%? Then how much would prices be down!
This is a Deflationary situation indeed
personal consumption expenditures, the Fed's preferred inflation gauge, was up only 0.2%
The writer was either dishonest or confused.
The nominal PCE (total personal expenditures by consumers) was up 0.1% and the inflation adjusted PCE was up 0.2%. That means the PCE price index was in deflation. The writer must be a journalist with no understanding of money.