Today's report reveals that the Personal Consumption Expenditures (PCE) inflation has stayed under 2.5% for four consecutive months. In a related economic update, it was reported yesterday that the Gross Domestic Product (GDP) increased by 3.1% in the third quarter of 2024.

Lael Brainard, National Economic Advisor, noted that "growth has been 3% per year on average since the beginning of 2021, higher than any other presidential term in the 21st century." Despite this growth, she acknowledged ongoing challenges: "Prices remain too high for working families, and we will keep fighting to lower costs for families on key items like housing, groceries, and health care."

These figures highlight a period of consistent economic growth alongside persistent concerns about affordability for essential goods and services.