00:00It's Benzinga bringing Wall Street to Main Street
00:02The Federal Reserve's preferred inflation gauge came in below expectations in August,
00:06but technical revisions rather than easing price pressures drove the decline, according
00:10to Benzinga.
00:11Annual revisions lowered July headline PCE inflation to 3.4% from 3.7% and core PCE
00:19to 3% from 3.3%.
00:21Both held steady in August, while monthly core PCE rose 0.2% below the 0.3% consensus.
00:28Traders cut the odds of an October Fed rate increase to 37.1% from 70.9% last week.
00:35Economists said the revisions largely reflected measurement changes in software, portfolio
00:39management fees, and noisier non-market services rather than a meaningful shift in inflation.
00:44Services prices excluding energy and housing rose 0.4% in August from 0.1% in July.
00:51For all things money, visit Benzinga.com.
