Today’s report shows that PCE inflation has remained below 2.5% for four months in a row, while yesterday’s report showed GDP grew by 3.1% in the third quarter. Growth has been 3% per year on average since the beginning of 2021, higher than any other presidential term in the 21st century. 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.
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Statement from National Economic Advisor Lael Brainard on November 2024 PCE and Third Quarter 2024 GDP The White House.
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